Mears Group PLC (AIM:MER) gave a contrasting view on the housing market to builders’ merchant Travis Perkins, as it reported strong trading in the first five months of its financial year, with continued elevated revenues, improving operating margins and excellent cash performance.
Mears, which specialises in the maintenance of council and housing association properties, said the good momentum should mean full-year profits will be “materially ahead” of current market expectations.
Interim results for the six months to 30 June 2023 will be released on Thursday 3 August 2023.
Shares rose 18p to 281p, with shares climbing 41% since April.