Trading update for social housing repairs firm shows order book worth 拢1.7bn

Mear the social housing repairs and maintenance provider, has said demand for its services has 鈥渘ever been stronger.鈥�

In a trading update, the firm said it had received contract awards above 拢450m since 10 March and had an order book worth 拢1.7bn.

Mears said its social housing and domiciliary care accounted for 90% of group revenues and were highly 鈥渄efensive鈥� since spending in the areas was largely non-discretionary. The sectors offer 鈥渟ubstantial immunity from bad debts", according to the firm.

Mears said it had a strong balance sheet with low gearing and gave the firm significant flexibility to take advantage of 鈥渁cquisition opportunities.鈥�

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