UK's Mears Group up, says it expects FY24 outlook above expectations

Mears

09/01/2025 10:21

** Shares of Mears Group  MERG.L  rise 8.6% to 376p
    ** Co, which provides housing services including maintenance
and management, expects results to be marginally above market
expectations for FY24
    ** Adds, it is confident of delivering above market
expectations for FY25 
    ** Analysts on average expect co to post rev of 1,126 mln
pounds ($1.38 billion) and adj profit before tax (PBT) of 60.9
mln pounds for FY24, according to a company-compiled consensus 
    ** For FY25, analysts on avg expect co to post rev of 982
mln pounds, adj profit before tax (PBT) of 44.7 mln pounds
according to a company-compiled consensus 
    ** Co's management-led volumes and group margins expanded
quicker than anticipated, with positive trend strengthening in
H2, - analysts at Panmure Liberum say in a note 
    ** Stock rose ~16.6% in 2024
    

($1 = 0.8131 pounds)

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com))