Mears Group says FY26 results remain in line with market expectations after new contract wins
Mears Group says it continues to trade well as demand for housing services in the UK supports growth in its core maintenance activities. The company says it has secured £1.5 billion of new local government orders in the first half and is moving through an intensive period of contract mobilisation that continues into the second half.
Highlights
- Mears Group expects FY26 results in line with market consensus of £1,038 million revenue and £50.7 million adjusted profit before tax.
- First half of the year, Mears secured £1.5 billion in new local government orders, with significant contract mobilisation continuing through the second half.
- New £150 million, 10-year contract win with Rooftop Housing Group covers 7,000 units and supports expansion in UK housing services.
Contract pipeline and trading outlook
As reported by the London Stock Exchange's Regulatory News Service, Mears Group says the board expects to report full-year results in line with market expectations. Consensus expectations for FY26 are revenue of £1,038 million and adjusted profit before tax of £50.7 million.During the first half, the group says it secured £1.5 billion of new orders with local government. It adds that the business is now in an intensive phase of mobilising new contracts, with that work set to continue throughout the second half.
Housing services expansion in the UK
Separately, Mears says it has won a new contract from Rooftop Housing Group covering responsive repairs, void refurbishment, planned works and compliance services. The contract has an estimated value of £150 million over 10 years and covers 7,000 housing units in South Worcestershire and North Gloucestershire.Chief Executive Officer Lucas Critchley says the group is making strong progress against its strategic objectives, supported by growth in maintenance activities and new business wins including Birmingham City Council and Rooftop Housing Group. He adds that the integration of Pennington is well advanced and is helping accelerate Mears' compliance offering while strengthening its position in long-term asset management contracts and potential additional housing services for central government.
Our earlier report on UK business confidence in June highlighted a pullback in sentiment as cost pressures and broader uncertainty weighed on companies’ outlook. It noted that while views on the wider economy weakened more sharply, firms’ expectations for their own trading held up better and hiring intentions improved for the first time in three months.
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