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Mears Group PLC on Thursday said it has received a pre-award notification from Milton Keynes City Council for a new housing repairs and maintenance works and services contract. The Gloucester-based housing and social care provider said the deal was valued at £230 million over an initial five-year period, and involved the delivery of both planned and reactive repairs and maintenance works across the council’s housing stock. There is also an option for the council to extend the contract for an additional five-year period, which would increase the total contract value to around £475 million. Mears has been partnering with the Milton Keynes City Council since 2016, with this newest contract due to begin in August 2025. ‘I am delighted to announce a positive outcome on this key contract retention,’ said Chief Executive Officer Lucas Critchley. ‘This sees the conclusion of a busy period of contract rebids, against which the group has secured new orders to a value approaching £1.5 billion at a 100% contract retention success rate. The retention of the contract with MKCC is another important milestone in the delivery of the Group’s clearly communicated strategic plan, and further underpins the Board’s current year expectations.’ Shares in Mears Group were up 1.8% at 394.50 pence in London on Thursday afternoon. The stock is up 8.7% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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