Mears Group PLC - Gloucestershire-based provider of services to the UK housing sector - Expects full-year results ‘materially ahead’ of previous forecasts after strong trading since its interim results announcement in August, driven by ‘an increased operational and commercial focus’ and volumes in management-led activities that have reduced at a slower rate than anticipated. It lifts its 2024 forecast to around £1.13 billion of revenue and at least £60 million in adjusted pretax profit, compared to a company-compiled current market consensus of £1.10 billion of revenue and £54.5 million of pretax profit. For 2023, Mears had reported revenue of £1.09 billion and a statutory pretax profit of £46.9 million.
Current stock price: 353.50 pence, up 3.8% in London on late Friday morning
12-month change: up 38%
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