Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Mears Group plc
  6. News
  7. Summary
    MER   GB0005630420

MEARS GROUP PLC

(MER)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Mears : wins Manchester repairs and maintenance contract

01/25/2017 | 06:41am EDT

A repairs and maintenance contract worth up to £86m over the next 10 years has been signed for north Manchester's council homes.

Manchester City Council and its arm's length housing management organisation, Northwards Housing, have chosen Mears to do the work.

Mears won the right to carry out the repairs, empty property and servicing work to 13,500 homes in the north of the city.

The contract, which will also include Mears carrying out new adaptation work to all Manchester City Council homes, follows a four-stage tendering process and strong competition between four firms.

The new contract starts on Monday 3 April and will run initially until 2 April 2021. The plan is for it to continue to the full 10 years through two three-year extensions.

Mears is the majority owner (80%) of Northwards' existing contractor, Manchester Working Ltd.

Sue Abbott, chair of the Northwards board, said: 'Mears offers good value for money, with the pre-set price of each repair job decreasing by 3.01%. They've also agreed to fix this cost for four years, which is great at a time where funding for services can be uncertain.

'We look forward to building on the great relationship we already have and further improve our repairs service.'

As part of the new contract, Mears will offer weekday hours of 8am to 8pm and a Saturday morning service. Servicing costs will become fixed and there are new incentives and disincentives for the contractor to control spending.

Des Morris, Managing Director of Mears, North West, said: 'We are delighted to have been awarded the new contract. We can now build on the solid foundations already established over the last 10 years through the Manchester Working joint venture to deliver excellent services, value for money and tenant satisfaction.'

Mears Group plc published this content on 25 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 January 2017 11:41:06 UTC.


© Publicnow 2017
All news about MEARS GROUP PLC
10/21ALAN LONG : Social Value in Action: Leading by Example
PU
10/19MEARS : ‘Your Voice' Receives Silver at UK Customer Experience Awards 2021
PU
10/15MEARS : rsquo; Alex Ballintine Wins Top FM Award for Newcomer of the Year
PU
10/11MEARS : are Tenant Engagement Award Winners!
PU
10/11MEARS : Tower Hamlets' Tanisha Mckay Forges the Way for Women in Maintenance
PU
10/08MEARS : rsquo; ‘Your Voice' wins Tpas Finals for Outstanding Tenant Engagement
PU
10/08TRINA OLIVER : World Mental Health Day 2021
PU
10/08MEARS : NCSW21 - Celebrate your Customer Service Heroes on Recognition Day
PU
10/07MEARS : NCSW21 - Effective Strategy and Focused Leadership
PU
10/07MEARS GROUP PLC : Ex-dividend day for interim dividend
FA
More news
Analyst Recommendations on MEARS GROUP PLC
More recommendations
Financials
Sales 2021 839 M 1 154 M 1 154 M
Net income 2021 12,0 M 16,5 M 16,5 M
Net Debt 2021 230 M 316 M 316 M
P/E ratio 2021 17,7x
Yield 2021 3,90%
Capitalization 218 M 301 M 300 M
EV / Sales 2021 0,53x
EV / Sales 2022 0,57x
Nbr of Employees 6 000
Free-Float 98,3%
Chart MEARS GROUP PLC
Duration : Period :
Mears Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MEARS GROUP PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 197,00 GBX
Average target price 246,00 GBX
Spread / Average Target 24,9%
EPS Revisions
Managers and Directors
David John Miles Chief Executive Officer & Executive Director
Andrew Christopher Melville Smith Finance Director & Executive Director
Kieran Murphy Independent Non-Executive Chairman
Julia Unwin Senior Independent Non-Executive Director
Jim Clarke Independent Non-Executive Director
Sector and Competitors