The Sunday Telegraph finance editor doesnt like the idea of Mears anymore and, several weeks ago, suggested selling them -@128. Since then, they have been up to 138 and are now around the 130 mark. Since the Telegraph suggestion Fidelity Investment have stached away a 3.31% stake - as have others.All this for a share that was languishing, with others, at 58p just a wee while ago. NOW. How much are they worth? REALLY WORTH. To assess their ability to stay in business one only has to look at the average Council Executive. Reared on HIGH SALARIES and SMALL WORKLOADS their main aim is off load as much responsibilty as possible commensurate with spending extended time on the golf course and at sensible restaurants. Remember High Executives of Councils are not there with the intention of actually working themselves. Mears, therefore, is a ready made OUT for this idle,lazy band of brothers.A responsible, trustworthy, diligent and patently HONEST outfit who will assume the responsibility and afford our overloaded executive the ability to goof off for another lunch/game.YOU KNOW IT MAKES SENSE.Would anyone like to guess if I own a restaurant?

StockMarketWire.com
Housing and social care provider Mears said its housing revenues will be £30 million lower than previously expected this year, resulting in a loss of profit and lower overhead recovery.

It warned that the recent tragic events at Grenfell Tower will impact the housing division as clients review the commissioning and safety practices at their properties.

"These unexpected events will inevitably impact the timing of our planned workloads as clients' attentions have naturally been diverted towards ensuring that their housing portfolios are safe and fully compliant," the company said.

It expects housing revenues of around £800m in 2017, compared with its previous expectation of £830m.

Housing margins will be between 5.3% and 5.5% rather than the previous expectation of 5.6% to 5.8%.

In the first half, Mears' revenue increased by 1% to £470.8m, with adjusted profit before tax up 1% to £18.3m.

The housing division, which accounts for 85% of group revenues, reported revenues of £402.1m, representing organic growth of 3%.

The care division saw revenues decline by 10% to £68.7m, which the company said reflects significant progress in securing new contracts to replace the lost revenues following the closure of sub-optimal branches.

The company declared an interim dividend of 3.45p, an increase of 5% year-on-year.

Peel Hunt Buy 445.75 550.00 550.00 Reiterates

Liberum Capital Buy 445.75 540.00 540.00 Reiterates

Liberum Capital today reaffirms its buy investment rating on Mears Group PLC (LON:MER) and cut its price target to 500p (from 540p).

StockMarketWire.com
Social housing and care-sector support company Mears Group said it had seen further softening of revenues in its housing division.

The company said it had commenced a "right-sizing" across a range of support functions that would would last until the end of the year. More details would be provided in March.

"I do not wish to gloss over our 2017 performance and I understand the importance of delivering against our financial targets in the short term," chief executive David Miles said.

"Whilst some of the short-term challenges in housing could not have been anticipated, it is frustrating a number of other opportunities that could have helped mitigate these challenges did not develop quickly enough."

"Nonetheless, I am pleased with the progress made over the last year across the entire Mears business and on a range of important indicators."

Liberum Capital today reaffirms its buy investment rating on Mears Group PLC (LON:MER) and cut its price target to 480p (from 525p).

StockMarketWire.com
Housing and care-sector services provider Mears Group posted a fall in annual profit, amid delays to the timing of planned workloads following the fatal fire at Grenfell Tower.

Pre-tax profit slipped 7% to £37.1m, as revenue declined by 4% to £900.2m.

The company said it also experienced a slow period securing new contract revenues in its housing division.

It nevertheless increased its annual dividend by 3% to 12.00p per share.

'Whilst 2017 proved to be a challenging year, we have made solid operational progress,' chief executive David Miles said.

'The decline in housing revenues following the tragic events at Grenfell Tower has stabilised although there still remains some uncertainty as to the speed at which these revenues will recover.'

'The performance of the care division has been a highlight, returning to profitability as planned following a period of restructuring, putting the care division on a stable footing.'

Placing at 331p and the share price is now 327p so I guess some aren't impressed.