Mears Group plc

MER

GB0005630420

Business Support Services

Market Closed - London S.E. Other stock markets 11:35:13 2024-04-26 am EDT			5-day change	1st Jan Change
355 ^GBX	+1.43%		-1.93%	+14.52%

Apr. 19	Mears Group completes GBP20 million share buyback	AN
Apr. 11	Mears Group ups dividend after cracking the GBP1 billion revenue mark	AN

Mears to outperform market expectations

January 11, 2024 at 04:56 am EST

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

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SMALL-CAP - WINNERS

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Mears Group PLC, up 7.8% at 337.5 pence, 12-month range 192.5p-346.5p. The housing and social care provider says it expects annual results ahead of market expectations. It forecasts revenue of GBP1.05 billion, up from 2022's GBP959.6 million, and ahead of market forecasts of GBP1.03 billion. Adjusted pretax profit is expected at GBP43 million, compared to forecasts of GBP40.9 million. Also says its results in 2024 are expected to beat market forecasts of GBP888 million revenue and adjusted pretax profit GBP33.9 million. "We are delighted to have achieved strong revenues, profits and cash generation in 2023. This strong momentum is expected to continue into 2024 and the group continues to deliver well against its clearly defined strategy, underpinned by our long track-record for operating excellence," says Chief Executive Officer Lucas Critchley.

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Robert Walters PLC, up 3.9% at 425.80p, 12-month range 344p-580p. The recruitment firm regains its footing, after a trading update of its own, after a profit warning from FTSE 250-listed peer Hays PLC had weighed on the stock earlier this week. Robert Walters affirms that pretax profit for 2023 will be in line with market expectations of GBP20.5 million, which is down sharply from GBP55.6 million in 2022. Its fourth quarter net fee income falls 13% year-on-year, in what the company describes as a "resilient" performance. "We remain confident in the long-term structural drivers that underpin demand for our services," says CEO Toby Fowlston. The stock is still down 4.5% this week, however.

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SMALL-CAP - LOSERS

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Smiths News PLC, down 6.0% at 50.60p, 12-month range 40p-59.8p. The newspaper and magazine distributor's shares retreat, and are down 4.8% since the start of 2024. Over the past 12 months, they have fallen 11%.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
FTSE MID 250 INDEX	19,824 PTS	+1.13%	+1.92%	-
ROBERT WALTERS PLC	394 GBX	0.00%	+1.03%	322M
MEARS GROUP PLC	355 GBX	+1.43%	-1.93%	416M
HAYS PLC	92.1 GBX	+0.93%	+0.71%	1.82B
SMITHS NEWS PLC	52.8 GBX	-1.49%	+3.53%	156M

Latest news about Mears Group plc

Mears Group completes GBP20 million share buyback	Apr. 19	AN
Mears Group ups dividend after cracking the GBP1 billion revenue mark	Apr. 11	AN
Mears Group ups dividend on higher profit	Apr. 11	AN
Mears Group plc Reports Earnings Results for the Full Year Ended December 31, 2023	Apr. 11	CI
Mears Group plc Recommends Final Dividend for the Year Ended 31 December 2023, Payable on 16 July 2024	Apr. 11	CI
Synectics shares rise as appoints Bob Holt as chair	Apr. 09	AN
FTSE 100 Ends Tuesday Down on U.S. Weakness, Interest Rate Uncertainty	Feb. 20	DJ
Mears approve further GBP20 million share buyback programme	Feb. 20	AN
Mears Group plc commences an Equity Buyback Plan for 10,156,470 shares, representing 10% of its issued share capital, under the authorization approved on February 12, 2024.	Feb. 20	CI
Mears Group plc's Equity Buyback announced on October 3, 2023, has expired.	Feb. 11	CI
FTSE 100 Closed Down 1% as Banking Sector Lags Market	Jan. 11	DJ
Stocks lower on hotter-than-expected US inflation	Jan. 11	AN
Mears shares rise as set to exceed market forecasts for 2023 and 2024	Jan. 11	AN
Mears to outperform market expectations	Jan. 11	AN
Mears Group CEO Steps Down	Jan. 02	MT
Mears Group completes buyback of 4.9 million shares	Dec. 22	AN
Britain's Mears Group Finalizes Share Buyback	Dec. 22	MT
Mears names chief executive officer, effective from new year	Dec. 14	AN
Mears Group's New CEO to Take Office in January 2024	Dec. 14	MT
Mears Group plc Announces CEO Changes	Dec. 14	CI
Mears Group plc Announces Directorate Changes	Dec. 14	CI
System1 revenue jumps; Volex takes cyber hack charge	23-10-24	AN
Mears Group share premium account cancellation all but done	23-10-10	AN
Mears Group launches additional GBP15 million share buyback	23-10-03	AN
Mears Group plc commences an Equity Buyback Plan for 11,103,647 shares, representing 10.08% of its issued share capital, under the authorization approved on June 23, 2023.	23-10-03	CI

Chart Mears Group plc

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Company Profile

Mears Group PLC is a United Kingdom-based provider of housing solutions for both the public and private sectors. The Company operates through three segments: Maintenance, Management, and Development. The Company offers a range of services, including Housing Maintenance, Housing with Care, Housing Management, House Building, Planned maintenance, Capital Works and Facilities Management. Housing maintenance includes repairs, refurbishment, fire safety and building maintenance services. Housing with Care services provides a range of schemes, including small buildings with a few properties and large sites. Housing Management service is specialized in community housing management services, including looking after tenancy, lease management and property maintenance. Planned maintenance includes jobs, such as installing central heating, fitting double glazing, kitchen and bathroom improvements, re-wiring, re-roofing, annual boiler and heating servicing.

Sector

Business Support Services

Calendar

2024-06-12 - Annual General Meeting

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