Contractor bags record haul in 2015, including deals worth up to 拢390m and 拢250m
Contractor Mears has secured a record 拢1bn in new orders during 2015.
In a trading update to the City, Mears highlighted two mega contracts worth 拢390m and 拢250m which had helped the contractor win nearly 拢1bn in new work last year.
The firm secured a 15-year partnership deal with Milton Keynes council to regenerate seven areas of the city, worth up to 拢12m a year for repairs and maintenance and 拢14m a year for new build, which totals 拢390m over the course of the contract.
Mears was also awarded a three-year housing management contract for around 4,000 homes 鈥� with the opportunity for a two-year extension 鈥� worth around 拢50m a year.
The firm said it forecasts revenue of 拢975m when it publishes its full-year results, which it said reflects 鈥渟trong progress鈥� made in new contract bidding.
However, Mears said its care business has found current market conditions 鈥渃hallenging鈥�, with 鈥渟ignificant disparity鈥� between long-term and short-term opportunities in the sector.
Mears chief executive David Miles (pictured) said: 鈥淭he speed of development of our housing management business is particularly exciting and the outlook here is excellent.
鈥淚 am delighted that we have secured both our primary bidding targets in 2015, neither of which could have been secured without our housing management expertise.
鈥淥ur care business continues to find the current market conditions challenging. However in the long-term we see significant opportunity in the Care sector and remain confident that we have the right strategy.鈥�
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