Mears (MER)

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575
Mears MER Logo

The provider of services to the Housing and Care sectors in the UK.

20-Mar-2018 – 365p – £378.0m – PER 10.3

Final Results For The 12 Months To End December 2017 – Don’t like the look of this, Revenue, PBT, EPS and the Order book all down on last year, circa 10% or so. Net Debt doubled (£25.8m).

Grenfell impact still being felt and still considered an unknown. I am staying away from this one for now.

14-Aug-2018 – 355p – £357.5m – PER 9.92

Results For The 6 Months To End June 2018 – A solid performance (in-line) with Revenue down -8%! Statutory PBT is +1% and EPS +6%, the Interim Dividend is up 3%. Confident of delivering against FY expectations.

I still can’t get away from Neutral here and I think Stockopedia has it about right – Classifying it as an “Adventurous, Mid Cap, Contrarian” stock.

15-Jan-2019 – 345p – £381m – PER 9.5

Trading Update For The 12 Months To End December 2018 – In-line, expect further progress in 2019 and into 2020.

Will keep an eye out for improvements here as 2019 progresses into what seems could be a more exciting 2020.

19-Mar-2019 – 290p – £320m – PER 8

Results For The 12 Months To End December 2018 – Revenue down -3.4%, Underlying PBT up 3.8%, EPS up 3.6% with the Dividend up 3.3%.

As I mentioned previously – Will keep an eye out for improvements here as 2019 progresses into what seems could be a more exciting 2020.

13-Aug-2019 – 271p – £299m – PER 8

Interim Results For The 6 Months To End June 2019 – In-line.

As I mentioned previously – Will keep an eye out for improvements here as 2019 progresses into what seems could be a more exciting 2020. Latest Broker note this morning indicates negative EPS growth (-2%) forecast for next year with an increase of 19% the year after.

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