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?

These look well oversold having been dragged down by Connaughts profit warning.

Brokers now queing up to give a BUY rating.......... (from hemscott premium)

a forward P/E of just 8.6 to 2011, derd cheap for a quality company like this..

Mears Group PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Execution Noble
12-07-10 BUY 30.50 24.50 6.50 34.70 27.50 7.10

Panmure Gordon
12-07-10 HOLD 30.40 25.30 6.33 35.10 29.00 6.96

KBC Peel Hunt Ltd
09-07-10 BUY 31.33 25.79 6.50 38.09 30.05 7.50

Arden Partners
09-07-10 BUY 30.70 26.30 6.50 35.00 28.60 7.30

Brewin Dolphin
09-07-10 BUY 30.00 24.20 6.30 34.30 26.90 6.90

The Royal Bank of Scotland NV
08-07-10 BUY 30.41 24.52 6.50 34.82 27.52 7.20

Investec Securities
24-06-10 BUY 30.54 24.69 6.56 34.78 27.58 7.54

Altium Securities
28-05-10 HOLD 29.40 23.50 6.30 34.10 27.00 7.30

Collins Stewart
13-05-10 BUY 30.30 24.40 35.00 27.70

Numis Securities Ltd
11-05-10 HOLD 31.00 25.00 6.70 35.00 27.70 7.90

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 30.42 24.69 6.47 34.85 27.77 7.31

1 Month Change -0.06 -0.02 0.00 0.09 -0.08 -0.05
3 Month Change -0.15 -0.04 -0.06 -0.51 -0.10 -0.05


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 6.62% 36.49% 12.51%
DPS 17.65% 29.48% 12.96%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 27.25m 35.26m 39.62m

EBIT 19.89m m m

Dividend Yield 2.08% 2.69% 3.03%

Dividend Cover 3.62x 3.81x 3.80x

PER 13.32x 9.76x 8.68x

PEG 2.01f 0.27f 0.69f

Net Asset Value PS 44.72p 161.54p 173.46p

brokers must have a load of shares to get rid of beware perhaps profit warning coming up.

Mears Group PLC
("Mears" or "the Group")

Disposal of Datacare Business Systems Limited ("Datacare")

Mears today announces the disposal of Datacare to Mavinwood plc generating net
proceeds of GBP1.0m. Datacare was acquired earlier this year as part of the
Supporta plc acquisition. At the time Mears acquired Datacare, the Group stated
it would conduct a review of the business to determine whether it formed a part
of Mears' long term strategy. Following this review, it was determined that
Datacare is not core to the Group's strategy.

Strategic Partnership with British Gas Trading Limited ("British Gas")


Mears announces that it has today entered into a Strategic Partnership ("Partnership") with British Gas to jointly address the challenges of energy efficiency within the social housing sector.

Looks like good news...lots of ifs and buts and it depends on the economy doing well and government spending controls etc... market reacting pos+ at the moment hope it continues!

Interim management Statement.

Key Highlights since 1 July 2010
Group order book of 2.6 billion with unprecedented forward visibility approaching 90% of consensus forecast revenues for 2011 and 75% for 2012.

New contracts awarded in 2010 to-date total 1 billion (including extensions).

Transformational year for Mears. Consolidation of market leading position in both core growth markets of Social Housing and Domiciliary Care.

Exceptional opportunities in both core growth markets.

Government Spending Review is positive for Mears.

Trading in line with management expectations before the mobilisation costs of several new contracts to be mobilised close to year end.

New contracts awarded to the Group's Social Housing Division to the value of 68 million (145 million including extensions).

Mobilisation of the 300 million Family Mosaic contract, delivering services to more than 20,000 homes throughout London.

Acquisition of Jackson Lloyd Limited, which operates social housing maintenance contracts in the North West of England.

Announced British Gas Strategic Partnership to target funding opportunities under the Carbon Emissions Reduction Target (CERT) and the Community Energy Savings Programme (CESP) within Mears' existing and growing Social Housing client base.

New Domiciliary Care contract awards estimated to be worth in the region of 12 million over an average period of 4 years.

Group bid pipeline in excess of 3.0 billion underpins the Board's confidence in the future.

Pre-close Trading Update.

Trading Statement

Mears is delighted to report that trading for the year ended 31 December 2010 across all divisions was in line with management expectations.

During a particularly busy period of new contract mobilisations in the fourth quarter of the year, the Group has maintained its robust working capital management with strong profit to cash conversion.

Our bid pipeline remains robust at 3 billion and further new contract successes have increased the Group's order book to 2.7 billion providing unprecedented forward visibility of consensus forecast revenues for 2011 of in excess of 90% and approaching 80% for 2012.

The Group will be announcing its preliminary results for the year ended 31 December 2010 on Tuesday, 15 March 2011.

It all looks solid. Hopefully we'll see 3.5p in the next 4-6 months!

Nice progress today....showing 13% profit so far on my initial outlay...looking for 350p+ in the next few months! but will hold for larger gains on a 2yr view (imho)

SP continuing to climb...nice!

ive already eaten my hat.
regards
jkd

bought a few more today....it looks as though it's hit the bottom of it's trading range so it's onwards and upwards! (imho

Just had a small punt here - IMS next Monday (I believe) and a recent upgrade by Peel Hunt - Tp 3.

Interim Management Statement.

Trading update

-- Mears continues to deliver solid trading across all divisions in line with management expectations.

-- GBP120 million of new contract awards since publication in March of the final results for the year to 31 December 2010, which include:

o GBP52 million 10 year repair and maintenance contract with Bedfordshire Pilgrims Housing Association

o Additional repair and maintenance contracts totalling GBP30 million over an average of 4 year terms, including Dover District Council and Leeds City Council

o Mears awarded its first in-sourcing solutions contract with Epping Forest District Council to provide support to their Direct Labour Organisation

o Several new Domiciliary Care contracts ranging from two to five years in duration with an estimated aggregate value of GBP37 million over their lifetime

o A GBP4 million, three year contract for the Home Improvement Agency service provided by Gloucestershire County Council.

-- British Gas partnership developing well - environmental works already commenced across two Registered Social customers.

-- Roll-out of the Mears Care IT system commenced in April and remains on track.

-- Mears order book currently stands at GBP2.7 billion with secured revenues in excess of 93% of the GBP620 million consensus revenue forecast for the current year and in excess of 80% of the GBP667 million consensus revenue forecast for 2012.

SP down! but not for long I hope.

AGM Statement.

Half Yearly Report.


Financial Highlights Six months Six months Change
to 30 June to 30 June
2011 2010
Revenue GBP292.6m GBP252.6m up 16%
Adjusted operating profit* GBP15.2m GBP14.6m up 4%
Adjusted profit before tax* GBP14.1m GBP13.2m up 7%
Diluted EPS 8.97p 5.73p up 57%
Normalised diluted EPS** 11.42p 10.80p up 6%
Dividend per share 2.15p 1.90p up 13%

I'm still in with this one....looking for 3.40ish in the next 6months...my guess is that'll start moving up as we get to the next trading update/results early next year (imho)

One of my favourites for about 10 years

Interim Management Statement.

Mears has today brought forward the release of its Interim Management Statement ("IMS") for the period from 1 July 2011 to date.

Key Highlights since 1 July 2011:

The Group is continuing to experience solid trading within the activities of both its core divisions of Social Housing and Care.

Group order book of 2.7 billion with secured revenues of 95% of current consensus forecast revenues for 2011, 85% for 2012 and 70% for 2013.

New contracts awarded and announced today in respect of the Group's Social Housing Division to the value of 109 million (180 million including extensions). This increases the value of social housing new contracts awarded in the last eight months to 350 million (423 million including extensions). The Group continues to achieve high new tender conversion rates of 47% and 62% in Social Housing and Care respectively

Group bid pipeline remains in excess of 3.0 billion, and with an immediate bidding opportunity of 1.6 billion, continues to underpin the Board's confidence in the future.

The Government announced their decision on the 31 October 2011 to halve the solar Photovoltaic (PV) Feed-in Tariff (FIT) subsidy from 12 December 2011, which came as a surprise to many participants in the PV space. Since the decision to substantially reduce the PV FIT, and more importantly to bring forward the effective date, the Board has been evaluating the business case for PV and conclude that the prudent course of action is to cease these activities immediately, as the commercial attractions that led us to explore the PV space, in the short term, no longer exist. As a direct result, Operating Profit is likely to fall short of our previous expectations in the region of 2.8 million for the current year. In addition we believe it appropriate to write-off costs relating to the site set-up, system design and installation amounting to approximately 2.0 million which are now considered irrecoverable. The latter amount will be treated as a non-recurring item and excluded from the Group's normalised earnings calculations in the full year results.

In September the Group completed a refinancing of its banking facilities and signed a new 120 million unsecured facility maturing in July 2016. This new arrangement replaces the previous 85 million secured facility and includes lower debt pricing and higher operational flexibility.

The Group completed the acquisition of the Supported Living division of Choices Care Community Services Limited ('Choices') as the first step in our strategy to develop a broader care offering to our clients. The period since acquisition has proceeded well and the Group anticipates the acquisition being earnings enhancing for the year ending 31 December 2012.

Mears has signed a strategic partnering arrangement with the Tunstall Group. The partnership has already secured a contract with Birmingham Council, which has a large programme to roll out telecare and telehealth systems across the City. The partnership is well placed to benefit further from these opportunities.