Mears set to beat profit forecasts after strong first half

The housing sector companies specialist mentioned group revenue earlier than tax for the primary half will are available “modestly forward” of 2024, buoyed by rising demand for upkeep work and a full 12 months of contract wins holding agency.

Income and adjusted pre-tax revenue for the complete 12 months are actually anticipated to hit at the very least £1bn and £54m, respectively – forward of earlier forecasts.

Progress has been led by its Upkeep arm, the place tighter regulation is prompting extra spend from social landlords. The division has additionally benefited from 100% contract retention over the previous 12 months.

The group will publish interim outcomes for the six months to 30 June in early August.