Housing and maintenance firm increases interim turnover to 拢118m as integration of buyouts continues

Pre-tax profits at housebuilder and maintenance company Mears Group has jumped 23.4 % to 拢5.7m for the first six months as it extends its coverage of the social housing market.

Turnover increased 22.5 % to 拢118.m for the first six months to 30 June. Mears鈥� order book now stands at 拢1,080m and it secured 拢170m of new work in the period. Social housing accounted for 75% of turnover rising 28.7% to 拢88m.

Mears鈥� social housing arm was recently strengthened by the acquisition of Glasgow-based, social housing repairs and maintenance provider Laidlaw Scott. The company said it would continue to look for business enhancing acquisitions.

Six months ago Mears restructured to create three businesses: the north of England, south of England and Midlands and Wales.

Bob Holt chairman said: 鈥淚 am excited by the opportunities and believe Mears is in a great position as the market moves towards a more integrated and long-term approach in support of the community. I am confident that our full year results will again be at the top end of market expectations and re-iterate our commitment to delivering impressive sustainable growth into the future.鈥�

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