Mears Group (MER)

Sector:

Support

Index:

FTSE Small Cap

354.50p
   
  • Change Today:
    -10.50p
  • 52 Week High: 417.50p
  • 52 Week Low: 332.50p
  • Currency: UK Pounds
  • Shares Issued: 86.47m
  • Volume: 224,063
  • Market Cap: £306.55m
  • RiskGrade: 144

Mears hails record full-year revenues

By Michele Maatouk

Date: Friday 28 Apr 2023

LONDON (ShareCast) - (Sharecast News) - Housing and social care provider Mears reported a rise in full-year profit on Friday thanks to a "strong" recovery in revenues.
In the year to the end of December 2022, adjusted pre-tax profit grew 37% to £35.2m, on record revenue of £959.6m, up 9% on the previous year. The company said revenue was underpinned by the increased volumes experienced within the Asylum Accommodation and Support Contract.

Mears said it had successfully mitigated most of the adverse impacts of inflation, skills shortages and supply chain issues that affected the wider industry in 2022.

Operating margins strengthened to 3.8% from 3.4% a year earlier and the company proposed a final dividend of 7.25p a share, taking the full-year dividend to 10.5p from 8p.

Mears also said that its board hard approved a £20m share buyback.

Chief executive David Miles said: "I am delighted with the strong performance of the group, and these are a terrific set of financial results.

"Our market leading position, based on a clear strategy and resilient operating platform, has underpinned this performance, and positions the group for further sustainable growth in the medium-term."

Broker Peel Hunt, which rates the shares at 'buy', said pre-tax profit was ahead of its expectations and guidance of £33.5m.

At 1005 BST, the shares were up 6.5% at 222.00p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Mears Group Market Data

Currency UK Pounds
Share Price 354.50p
Change Today -10.50p
% Change -2.88 %
52 Week High 417.50p
52 Week Low 332.50p
Volume 224,063
Shares Issued 86.47m
Market Cap £306.55m
RiskGrade 144

Mears Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
62.31% above the market average62.31% above the market average62.31% above the market average62.31% above the market average62.31% above the market average
85.88% above the sector average85.88% above the sector average85.88% above the sector average85.88% above the sector average85.88% above the sector average
Price Trend
4.93% above the market average4.93% above the market average4.93% above the market average4.93% above the market average4.93% above the market average
35.48% above the sector average35.48% above the sector average35.48% above the sector average35.48% above the sector average35.48% above the sector average
Income
80.17% above the market average80.17% above the market average80.17% above the market average80.17% above the market average80.17% above the market average
96.30% above the sector average96.30% above the sector average96.30% above the sector average96.30% above the sector average96.30% above the sector average
Growth
81.46% above the market average81.46% above the market average81.46% above the market average81.46% above the market average81.46% above the market average
86.36% above the sector average86.36% above the sector average86.36% above the sector average86.36% above the sector average86.36% above the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mears Group Dividends

  Latest Previous
  Interim Final
Ex-Div 11-Sep-25 19-Jun-25
Paid 02-Oct-25 10-Jul-25
Amount 5.60p 11.25p

Trades for 20-Aug-2025

Time Volume / Share Price
15:40 10 @ 353.00p
16:35 35,577 @ 354.50p
16:35 243 @ 354.50p
16:35 337 @ 354.50p
16:35 189 @ 354.50p

Mears Group Key Personnel

Finance Director Andrew C M Smith
Chair Jim Clarke
CEO Lucas Critchley

Top of Page