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Mears

March 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MER
  • Price:
  • 342p
The shares jumped to a new high of 354p after Mears said it expected full year results modestly ahead of market expectations with revenues and adjusted pretax profit of £1,050m and £43m, respectively. Helped by strong cash conversion it ended the year with net cash of c. £105m and average daily cash of £75m, both ahead of expectations, even after distributing £49m in dividends and share purchases. While 2023 benefited from elevated revenues thanks to one-off housing asylum seeking contracts, it now expects 2024 revenues to normalise but encouragingly pretax profit is expected to remain at FY23’s elevated level reflecting “continued margin progression.” Highlighted at 279.5p last August, the shares have gained 22%. I am ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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