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Mears swings to loss; sees 'resilient' trading in first quarter
StockMarketWire.com
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Housing sector services provider Mears swung to a full-year loss as sales slid, but said it expected an improved performance this year as lockdowns ease.
Pre-tax losses for the year through December amounted to £15.2 million, compared to a year-on-year profit of £20.3 million. Revenue fell 8.6% to £805.8 million.
Mears declared no dividends for the year.
Mears said it was pleased with a 'resilient trading and liquidity performance' during the first quarter of 2021 and remained confident of a full recovery as lockdown restrictions were lifted.
'Given the impact of the third national lockdown, profitability for the full year is expected to be second half weighted,' it said.
Mears added that it was comfortable with current market consensus expectations for revenues and adjusted pre-tax profit for the current financial year.
At 9:59am: (LON:MER) Mears Group PLC share price was 0p at 149p
Story provided by StockMarketWire.com
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