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?

What does this company have to do to obtain the attention of the flakes who populate the MoneyAM bulletin boards? Mears had their Annual Meeting yesterday at which it was indicated that the year had opened in fine fashion, was expected to continue along similar lines and did anyone want to complain? Someone DID!!There seems to be one at every meeting. A special award for 'idiocy' should to the stockholder who objected to the issue of options to both Board members and Staff as an incentive to even greater effort. He seemd to resent the fact that 'some of these options have been issued at 10p others at 77p' His attention was drawn to the fact that these were the prevailing prices at the time of the option issue -the current price, he was informed, is 'about 180p' 'had he not made a profit?''havent you people made even MORE' was the reply. It would have been advantageous had he been removed by tactful men in white coats prepared to understand that a mature stockholder could suddenly take leave of his senses.
Fortunately Abuthnot have issued a further'buy' advice this a.m. and, thus,drawing attention to the fact that there is little to stop this one from breaching the 2.00 mark in a short time.What the recalcitrant stockholder SHOULD have been worried about was the fact that there was no one to uncork the wine bottles after the meeting!!

hilldee>>

It has got my attention don't worry about that. Did you notice back in April, shortly after the figures came out(I know it's a long time ago...but so was my last posting), that the share price rose steadily for days after. I kwew this was a really good sign as it means that the fund managers who have really poured over the figures, decided to buy big chunks... it was not just the normal knee jerk reaction from the market to a good set of figures.

The p/e looks a bit high to me now, so I took some profits at 181p, but I will definately hold the balance for the long term.

Do you have any thoughts on Connaught. Similar type of stock, good set of figures recently, full order book, lower p/e than MER. Not on as many radar screens as MER.

Regards
gk

Now, all you would be millionaires, how come you consistently miss one of the BIGGEST success stories ever. Once again Mears have excelled themselves and captured an ENORMOUS contract(over a period of years) that is going to transform the company.This has added a mere eight pence to the price, when a cold blooded assessment should have taken it to 200p. Interestingly, for 'Gallick' Connaught was one of the other companies sharing this massive contract. I repeat my comment that one of the idlest groups of CEO's in the world is to be found in those who control the spending of our numerous local authorities. Having got to the gravy they have no interest in working for their keep, so they offload all responsibility onto companies such as Mears. I leave you with the concentrating thought that these idle b......s permeate the entire local authority system and they have a network of idleness. What one discovers as a 'permit to the golf course' is quickly taken up by another.I trust some of the querulous willies out there realize just what this means for a company like Mears? In my opinion you aint heard nothin yet.

August 31 2004. The day that Mears announced yet further increases in, business,profits AND DIVIDENDS. This is a company that has delivered consistetly over its time on AIM and yet has been largely ignored by the folk who hang out in these columns. Now, I wonder why that is. Here is a company whose future, in the hands of a most able Chairman and Board, could have been traced from day one, yet most of the d...heads who post info would rather chase rainbows than take a grip on reality and place a large chunk of their worldly goods in a company that has, not yet, faltered. There aint no secret in the way it makes money. It provides excellent service, from willing employees -all of whom are well motivated and loyal -but it provides it to one of the laziest areas of money spending - Local Government. Whilst the board of Mears are out garnering more business and generally making it more profitable their 'customers' are congratulating themselves on finding such a 'treasure of a company.' Their passport to the golfclub and general idleness. Long may the combination continue.Nov 03 130p/August 04 190p Who is to complain ? Certainly not me.

Well hilldee you seem to be ploughing a lonely furrow on this BB.
I have ben a shareholder for about 3 years, my average purchase price being around 75p, so I'm quite happy up to now! Having looked at the latest results (which at first sight are good) I would caution that the rate of EPS growth for these interims compared with the second half of last year (C 10%) is much lower than that achieved between H1 and H2 2003 (C 20%). Furthermore last year's big acquisition is still making a loss, and the car delivery business has taken a downturn in revenue.
So whilst I guess I will be hanging onto my shares for the moment, we may be reaching the point where annualised EPS growth of 40% pa is no longer achieveable and maybe the meteroric rate of rise in the share price is now behind us. 2 looks a good thing in the next few days based on previous share price movements after the results. But if the EPS growth rate slows the justifiable forward PE ratio falls so maybe the shares will tread water for a while.
Smile

all justifiable remarks,Smile BUT please take into account the number of truly IDLE Chief Execs of Local Councils and the incredible amount of work still to be acquired. Mears wants to be bigger yet only has just touched the surface of this money pot. As a company they have always kept their powder dry and plenty of good news in reserve. I dont expect that to change.I must admit, though, it is good to have a cautionary word every so often, it makes me go back and prove the figures to myself and, thus, convince myself that this dream of a company is not the figment of my imagination

Why is it that, in spite of MANY representations, the Moneyam site for company results, listed under the price quote, seems chronically unable to post those for MEARS. Instead it hunts to international MER and, thus, produces info for Merrill Lynch. It DOES seem to get the charts in but nothing else. WHY ? MoneyAM ?

hilldee,

This is basically due to our supplier not being able to distinguish properly between the 2 and therfore presenting both news stories.

I will let them know that this is happening.

Ian

Thanks IanT(Moneyam) for a prompt reply. Lets hope that your questioning assisted a very nice little rise in Mears, both yesterday AND today.

The chart is beginning to look most interesting in this interesting stock. As the Chairman, Bob Holt, flies off to Australia (what could his mission be?)he gives the new man -Stuart Black - the opportunity to take the reins on Nov 15th in a quiet and unassuming manner. Already welcomed by the Local Authority community Black is expected to perform well in his new role. BUT how far will that role extend and what IS the future for one of AIM's better performers? If the chart IS to be believed, then we now have a sight of 230p and if the little birds are correct, there is ample new business to justify this price. Bob Holt has always been most conservative in his approach to acquisitions and Mears have yet to raise additional funds. But there ARE possible purchases out there and a sensibly pitched rights issue, just as these return to popularity, could prove to be the means to pitchfork Mears into the BIG time.

How sad that no one seems interested in this stock. Ticked up another 2p today to a boring old 193p It has ALL the makings of a real fortune for sensiblke investor's but then, I sense that these are few and far between on this website.
But is there ANYBODY OUT THERE who has read my little sallies over the years and has joined me in the never ending upward surge of this magnificent investment....IF SO PLEASE OWN UP. Do I have to grow rich all alone ?

Just as always, this posting will be greeted with the boredom the others have been BUT will SOMEONE admit to having invested in this miraculous little company. Starting life at 10p in '96 it is now on its way to the 230p that will represent its new resting place UNTIL IT DOES ANOTHER MAJOR DEAL AND PROPELS ITSELF FORWARD AGAIN. Come, join me Brothers. See the light. Be converted to the'new way'. Make some money, for a change. Hallelujah..come and be saved.

Hello Hilldee,

I'm not really a regular poster on money am, so excuse my failure to communicate regularly. You might find a few more posters on iii.
I'm still holding on awaiting moves upwards. Still of the view that maintaining 40% EPS growth rate will be tough especially as the business gets bigger.
How come you know Bob Holt is in Australia?
Also interested to know why you believe the chart says 230p is the next stop. I'm a bit of an astrologer with the charts but all I can see is a gradual flattening out of the graph.
Results are not due until March so methinks some news is needed to get a move before then.

Smile

I too see a gradual flattening of the graph.
I've held these for a dog's age, doing nicely as a result, but I can't see them continuing to rise at the same rate. Seriously thinking of halving my holding to ffree up funds for opportunities elsewhere.

I prefer to look at all the funds that have invested over the years. Most of them know Bob Holt well and all will have met the new incumbent CEO.Being a wily old bird I think it possible that Holt has kept his powder dry for an announcment - somewhere along the way - which will support the new guy and ensure further support.Like a joke, its all in the way you tell it !!!

its knocking on 200p...and, when its thro' that FIRST STOP 230P

Oh, what a bootiful morning. Now its one of Inv Chronicles SUPER stocks.And NONE of you would listen. Ah well, I cant put it ALL into one Bank, its too risky.

Please keep watching this little beauty.

One of the Directors - Philip Malloy - sells 255000 shares and the stock barely wobbles. Your check on the records may show that this one has disposed of stock before so, possibly, he's one of those guys with a big hole in his pants. The other Directors seem content to hunker down and make their fortunes.

There were rumors, yesterday, of a possible bid for Connaught, which - if it has nothing else - has an excellent PR outfit. Whatever the attraction in Connaught must be DOUBLED in Mears, which makes considerably higher margins (up to 33% more in some operations) The secret, not yet discovered by Connaught is in the handling, both of work AND staff. Connaught MIGHT be worth buying..but it would be even more advisable to seek success, for which you only have to look to MEARS.