Mears says Pennington integration "well advanced" as backs guidance

Mears Group PLC on Tuesday said it expects to report full-year 2026 results in line with market expectations as it continues to trade well.

Mears is a Gloucester, England-based provider of housing and social care.

In a business update, Chief Executive Lucas Critchley said the company is seeing growth in its core maintenance activities, having performed strongly through an intensive period of contract rebids, complemented by "strategically important" new business wins with Birmingham City Council and Rooftop Housing Group.

During the first half of 2026, Mears secured new orders with local government worth £1.5 billion, it said. On Tuesday, it announced a new contract award from Rooftop Housing Group, worth an estimated £150 million over 10 years.

Critchley said Mears is "well advanced" with the integration of property surveying and consultancy business Pennington Choices Group Ltd, bought last September for £9.5 million.

The CEO said Pennington is "already proving to have been an excellent" acquisition, "accelerating the development of the Mears' compliance offer, as well as strengthening the Mears provision for long-term, strategic, asset management contracts."

"We also remain well positioned to deliver additional housing services to central government," the CEO continued.

Mears expects to meet market expectations for 2026 revenue of £1.04 billion and adjusted pretax profit of £50.7 million.

In 2025, Mears reported revenue of £1.14 billion, pretax profit of £63.5 million, and adjusted operating profit of £64.8 million.

Shares in Mears were down 0.6% at 404.00 pence each in London on Tuesday.

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