Upcoming Dividend • 6h
Upcoming dividend of UK£0.12 per share Eligible shareholders must have bought the stock before 18 June 2026. Payment date: 09 July 2026. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.4%). Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Nick Wharton was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 21
Mears Group plc, Annual General Meeting, Jun 03, 2026 Mears Group plc, Annual General Meeting, Jun 03, 2026. Location: the offices of panmure liberum, level 12 ropemaker place, 25 ropemaker street, ec2y 9ly, london United Kingdom Announcement • Mar 28
Mears Group plc Proposes Final Dividend for the Fiscal Year 2025, Payable on 9 July 2026 Mears Group PLC announced the board has proposed a final dividend in respect of Fiscal Year 2025 of 11.90 pence per share, bringing the total for the full year to 17.50 pence, an increase of 9% (Fiscal Year 2024: 16.00 pence). The final dividend, which is subject to shareholders' approval at the AGM to be held on 3 June 2026, will be paid on 9 July 2026 to shareholders who are on the register of members at the close of business on 19 June 2026. The ex-dividend date is 18 June 2026. Announcement • Feb 25
Mears Group PLC Announces Appointment of Dame Oriana Clare Tickell as Non-Executive Director, Effective April 1, 2026 Mears Group PLC announces the appointment of Dame Oriana Clare Tickell as a Non-Executive Director with effect from April 1, 2026. Clare is a seasoned non-executive leader with over three decades of experience spanning housing, public service delivery, and corporate governance. Clare's combination of National Audit Office oversight, John Lewis Partnership governance, and housing-sector leadership positions her well to contribute to Mears' continued growth as a trusted and values-driven partner to the public sector. Clare is Interim Chair of Trustees at the John Lewis Partnership Foundation. Announcement • Jan 22
Mears Group plc to Report Fiscal Year 2025 Results on Mar 26, 2026 Mears Group plc announced that they will report fiscal year 2025 results on Mar 26, 2026 Announcement • Jan 05
Mears Group plc Announces Board Changes, Effective 2 January 2026 Mears Group plc announced that Hema Nar, Employee Director (non-statutory), having reached the end of her term in office, has stepped down from the board. The board also announced the appointment of Kiren Sampla as the new Employee Director (non-statutory). Kiren has been employed by the Group since 2015, working within the HR function. Both Board changes will take effect from 2 January 2026.
Kiren Sampla has a beneficial interest over 4,481 Ordinary shares in the Company, together with 5,000 share options granted under the Long-Term Incentive Plan, with an exercise price of 1 pence and which are not subject to performance conditions. Announcement • Sep 16
Mears Group plc (LSE:MER) acquired Pennington Choices Group Limited from Mark Seaborn for £9.5 million. Mears Group plc (LSE:MER) acquired Pennington Choices Group Limited from Mark Seaborn for £9.5 million on September 15, 2025. A cash consideration of £9.5 million will be paid by Mears Group plc. on a debt and cash free basis. The transaction will be financed from existing cash resources. Mark Seaborn will remain with the business following completion to ensure a smooth transition and integration into the wider Group.
Julian Cater and Kevin Cruickshank of Numis Securities Limited acted as financial advisor for Mears Group plc. Tom Scrivens and James Sinclair-Ford of Panmure Gordon & Co Limited acted as financial advisor for Mears Group plc.
Mears Group plc (LSE:MER) completed the acquisition of Pennington Choices Group Limited from Mark Seaborn on September 15, 2025. Announcement • Aug 08
Mears Group plc Announces Interim Dividend, Payable on October 2, 2025 Mears Group plc announced interim dividend of 5.60 pence (2024: 4.75p), an increase of 18%, will be payable on October 2, 2025 to shareholders on the register of members at the close of business on September 12, 2025. The shares will go ex-dividend on September 11, 2025. Announcement • Jun 04
Mears Group plc Approves Final Dividend for the Year Ended December 31, 2024, Payable on July 10, 2025 Mears Group plc Annual General Meeting held on June 4, 2025, approved a final dividend of 11.25 pence per ordinary share for the year ended December 31, 2024 be declared payable on July 10, 2025 to all members whose names appear on the Company's register of members as at June 20, 2025. Announcement • Apr 15
Mears Group plc, Annual General Meeting, Jun 04, 2025 Mears Group plc, Annual General Meeting, Jun 04, 2025. Announcement • Jan 02
Mears Group plc Announces Directorate Change Mears announced that as signalled previously, Dame Julia Unwin has stepped down as a Non-Executive Director of the Company on January 2, 2025, retiring after nine years' service. Following Julia's retirement, Angela Lockwood will now assume the role of Senior Independent Director. The Board intends to recruit an additional Non-Executive Director during 2025. Recent Insider Transactions • Nov 10
CFO & Executive Director recently bought €109k worth of stock On the 6th of November, Andrew C. Smith bought around 25k shares on-market at roughly €4.37 per share. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Andrew C. has been a net seller over the last 12 months, reducing personal holdings by €185k. Announcement • Nov 02
Mears Group plc Updates Earnings Guidance for the Financial Year Ending 31 December 2024 Mears Group plc updated earnings guidance for the financial year ending 31 December 2024. The board now anticipates that the group's full year results for financial year 2024 will be materially ahead of previous expectations, with revenues of approximately £1,125 million. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €3.87, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Commercial Services industry in Germany. Total returns to shareholders of 89% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.16 per share. Upcoming Dividend • Sep 05
Upcoming dividend of UK£0.048 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 03 October 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.3%). Buy Or Sell Opportunity • Aug 28
Now 20% overvalued Over the last 90 days, the stock has fallen 2.7% to €4.43. The fair value is estimated to be €3.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to decline by 21% in 2 years. Earnings are forecast to decline by 27% in the next 2 years. Reported Earnings • Aug 13
First half 2024 earnings released: EPS: UK£0.24 (vs UK£0.14 in 1H 2023) First half 2024 results: EPS: UK£0.24 (up from UK£0.14 in 1H 2023). Revenue: UK£580.0m (up 10% from 1H 2023). Net income: UK£22.7m (up 42% from 1H 2023). Profit margin: 3.9% (up from 3.0% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in Germany are expected to grow by 5.6%. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Jun 27
Mears Group plc to Report First Half, 2024 Results on Aug 08, 2024 Mears Group plc announced that they will report first half, 2024 results on Aug 08, 2024 Recent Insider Transactions • Jun 23
Insider recently sold €639k worth of stock On the 20th of June, David Miles sold around 150k shares on-market at roughly €4.27 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €939k more than they bought in the last 12 months. Announcement • Jun 14
Mears Group plc Approves Final Dividend for the Year Ended 31 December 2023, Payable on 16 July 2024 Mears Group plc approved a final dividend of 9.30 pence per ordinary share for the year ended 31 December 2023 be declared payable on 16 July 2024 to all members whose names appear on the Company's register of members as at 28 June 2024. Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: UK£0.33 (vs UK£0.25 in FY 2022) Full year 2023 results: EPS: UK£0.33 (up from UK£0.25 in FY 2022). Revenue: UK£1.09b (up 14% from FY 2022). Net income: UK£35.2m (up 27% from FY 2022). Profit margin: 3.2% (up from 2.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 6.7% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in Germany are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 28
Final dividend of UK£0.093 announced Shareholders will receive a dividend of UK£0.093. Ex-date: 27th June 2024 Payment date: 16th July 2024 Dividend yield will be 3.4%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 4.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 14% over the next 3 years. However, it would need to fall by 56% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Apr 11
Full year 2023 earnings released: EPS: UK£0.33 (vs UK£0.25 in FY 2022) Full year 2023 results: EPS: UK£0.33 (up from UK£0.25 in FY 2022). Revenue: UK£1.09b (up 14% from FY 2022). Net income: UK£35.2m (up 27% from FY 2022). Profit margin: 3.2% (up from 2.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 6.5% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in Germany are expected to grow by 5.0%. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Apr 11
Mears Group plc Recommends Final Dividend for the Year Ended 31 December 2023 The board of Mears Group plc is recommending a final dividend of 9.30 pence, bringing the full year dividend for the year ended 31 December 2023 to 13.00 pence (fiscal year 2022: 10.50 pence) reflecting continued strong cash performance and the board's confidence in the group's prospects. Buy Or Sell Opportunity • Mar 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to €4.17. The fair value is estimated to be €3.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 5.4% in 2 years. Earnings are forecast to decline by 2.2% in the next 2 years. Announcement • Oct 05
Mears Group plc (LSE:MER) commences an Equity Buyback Plan for 11,103,647 shares, representing 10.08% of its issued share capital, under the authorization approved on June 23, 2023. Mears Group plc (LSE:MER) commences share repurchases on October 3, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 23, 2023. As per the mandate, the company is authorized to repurchase up to 11,103,647 shares, representing 10.08% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 5% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System. The shares purchased may either be cancelled or held as treasury shares, which may then be cancelled, sold for cash, or used to meet the company’s obligations under its employee share schemes. The authority shall expire at the conclusion of the next Annual General Meeting of the company or September 22, 2024, whichever is earlier. As of June 23, 2023, the company had 110,185,009 ordinary shares in issue. Upcoming Dividend • Sep 28
Upcoming dividend of UK£0.037 per share at 4.0% yield Eligible shareholders must have bought the stock before 05 October 2023. Payment date: 27 October 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.9%). Recent Insider Transactions • Sep 14
Interim Independent Chairman recently bought €96k worth of stock On the 11th of September, Jim Clarke bought around 30k shares on-market at roughly €3.21 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Jim's only on-market trade for the last 12 months. Announcement • Sep 12
Mears Group plc Appoints Jim Clarke as Permanent Chairman Mears Group plc announce that Mr. Jim Clarke has been appointed as permanent Chairman, having been delivering the role on an interim basis since 28 June 2023. Jim has spent the last 30 years serving on a number of PLC Boards across a variety of sectors in both an Executive and Non-Executive capacity and will provide experience and continuity. Jim joined the Mears' Board in 2019 and served most recently as Chair of Audit and Compliance Committee. The Board has commenced a process for the recruitment of an additional Non-Executive Director possessing the requisite financial experience and skills to Chair the A&CC. In the interim period, Jim will continue as a member of that Committee given his expertise in that area. In line with good practice, Dame Julia Unwin, Senior Independent Director, has been appointed as Interim Chair of the A&CC. Board Change • Jun 29
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Angela Lockwood was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 29
Mears Group plc Announces Board Changes Mears Group plc announced that Mr. Jim Clarke has been appointed as Interim Chairman following Kieran Murphy (Chairman) and Chris Loughlin (Chair-designate) stepping down from the Board, as notified on 23 June 2023. Jim joined the Board in 2019. Jim has spent the last 30 years serving on a number of PLC Boards in both an Executive and Non-Executive capacity and will provide experience and continuity until the appointment of a new Chairperson. Dame Julia Unwin will take on the role of Senior Independent Director and Angela Lockwood is appointed as Chair of the Remuneration Committee. Upcoming Dividend • Jun 29
Upcoming dividend of UK£0.072 per share at 3.6% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 27 July 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.4%). Announcement • Jun 23
Mears Announces Board Changes Mears announced that it has received notice from Chris Loughlin, non-executive director of the company and Chair-designate, of his resignation from the board with effect from 23 June 2023. Accordingly, he will not seek re-election at the Annual General Meeting to be held on the same date. Chris had previously offered himself for re-election. Notwithstanding that proxy votes received suggest that this resolution would have passed with a majority in favour, there are a significant number of proxy votes against the resolution. As such, Chris has decided not to stand for re-election. The Board would like to thank Chris for his significant contribution during his time as a director. As the company's Notice of Meeting has already been issued, the company confirms that the resolution to reappoint Chris Loughlin as a non-executive director of the company (resolution number 7) is now withdrawn. Following receipt of notice of Chris Loughlin's resignation, a review of the membership of the board, the chairman position and board committees will be undertaken and communicated in due course. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €3.46, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Commercial Services industry in Germany. Total returns to shareholders of 101% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.93 per share. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: UK£0.25 (vs UK£0.12 in FY 2021) Full year 2022 results: EPS: UK£0.25 (up from UK£0.12 in FY 2021). Revenue: UK£959.6m (up 9.2% from FY 2021). Net income: UK£27.8m (up 114% from FY 2021). Profit margin: 2.9% (up from 1.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in Germany are expected to grow by 4.0%. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Jan 10
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Angela Lockwood was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 04
Mears Group plc Announces Executive Changes Mears Group plc confirmed that the following Board changes were completed on 1 January 2023. New appointments are Lucas Critchley as Executive Director and Hema Nar as Employee Director. Company also announced retirements of Alan Long as Executive Director and Claire Gibbard as Employee Director. Announcement • Dec 09
Mears Group plc Announces Chief Executive Officer Changes Mears Group plc Lucas Critchley will be appointed to the board as executive director on 1 January 2023. Lucas joined the Group in 2004 and has held senior roles across the Group. He possesses significant experience in the delivery of contracts to Local and Central Government clients, and shares Mears' commitment to partnering and excellence in Customer Service. The appointment of Lucas is in line with its previous announcement on the 27 May 2022, relating to the planned succession to the current Chief Executive Officer, David Miles. David will work towards his planned retirement from the PLC board after 27 years. This transition is well under way, and it is intended that Lucas will become CEO during 2023. Upcoming Dividend • Sep 29
Upcoming dividend of UK£0.033 per share Eligible shareholders must have bought the stock before 06 October 2022. Payment date: 28 October 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (5.5%). In line with average of industry peers (4.9%). Announcement • Aug 16
Mears Group plc (LSE:MER) acquired IRT Surveys Limited for £4.1 million. Mears Group plc (LSE:MER) acquired IRT Surveys Limited for £4.1 million on August 15, 2022. IRT is being acquired on a cash free, debt free basis, consisting of an initial consideration of £3.0 million, and subsequent contingent consideration of up to £1.1 million, payable over a two-year period following completion, subject to satisfactory performance against business development targets. The Acquisition consideration will be settled in cash and funded out of Mears' existing cash resources. In the year to December 31, 2021, IRT Surveys reported revenues of £0.4 million and an operating loss of £0.1 million. The business is on-track to deliver revenues of £0.8 million in FY22 and an operating profit of £0.2 million. IRT will continue to service existing IRT clients.
Mears Group plc (LSE:MER) completed the acquisition of IRT Surveys Limited on August 15, 2022. Reported Earnings • Aug 05
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down UK£4.67m from profit in 1H 2021). Profit margin: (down from 1.1% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 8.4% compared to a 6.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jul 01
Mears Group plc to Report First Half, 2022 Results on Aug 04, 2022 Mears Group plc announced that they will report first half, 2022 results on Aug 04, 2022 Recent Insider Transactions • May 24
CFO & Executive Director recently bought €57k worth of stock On the 17th of May, Andrew C. Smith bought around 25k shares on-market at roughly €2.26 per share. In the last 3 months, they made an even bigger purchase worth €60k. Andrew C. has been a buyer over the last 12 months, purchasing a net total of €165k worth in shares. Upcoming Dividend • May 19
Upcoming dividend of UK£0.055 per share Eligible shareholders must have bought the stock before 26 May 2022. Payment date: 16 June 2022. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.4%). Higher than average of industry peers (3.4%). Announcement • May 18
Mears Group plc Approves Final Dividend for the Year 2021 Mears Group plc approved the final dividend of 5.5 pence per ordinary share for the year 2021, at the annual general meeting held on May 17, 2022. Recent Insider Transactions • Apr 27
CFO & Executive Director recently bought €60k worth of stock On the 22nd of April, Andrew C. Smith bought around 26k shares on-market at roughly €2.37 per share. This was the largest purchase by an insider in the last 3 months. Andrew C. has been a buyer over the last 12 months, purchasing a net total of €109k worth in shares. Announcement • Apr 14
Mears Group plc, Annual General Meeting, May 17, 2022 Mears Group plc, Annual General Meeting, May 17, 2022. Buying Opportunity • Apr 06
Now 22% undervalued Over the last 90 days, the stock is up 8.2%. The fair value is estimated to be €3.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 5.7% in 2 years. Earnings is forecast to grow by 22% in the next 2 years. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: UK£0.12 (vs UK£0.11 loss in FY 2020) Full year 2021 results: EPS: UK£0.12 (up from UK£0.11 loss in FY 2020). Revenue: UK£878.4m (up 9.0% from FY 2020). Net income: UK£13.0m (up UK£25.3m from FY 2020). Profit margin: 1.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is expected to shrink by 6.8% compared to a 26% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 01
Mears Group plc Proposes a Final Dividend for the Year 2021 Mears Group plc announced the Board is proposing a final dividend of 5.50 pence per share (2020: 0 pence per share), bringing the total dividend for the year to 8.00 pence per share. Board Change • Jan 05
Less than half of directors are independent Following Non-Executive Director Angela Lockwood's arrival on 01 January 2022, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-executive Director Chris Loughlin was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 25
Mears Group plc Raises Earnings Guidance for the Year Ending December 31, 2021 Mears Group plc raised earnings guidance for the year ending December 31, 2021. For the year, the company expects to deliver revenues for the full financial year to 31 December 2021 of c.£850 million slightly ahead of management expectations of c.£840 million. Upcoming Dividend • Sep 30
Upcoming dividend of UK£0.025 per share Eligible shareholders must have bought the stock before 07 October 2021. Payment date: 28 October 2021. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 14
First half 2021 earnings released: EPS UK£0.042 (vs UK£0.11 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£443.7m (up 12% from 1H 2020). Net income: UK£4.67m (up UK£16.9m from 1H 2020). Profit margin: 1.1% (up from net loss in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Aug 12
Mears Group plc Revises Earnings Guidance for the Full Year 2021 Mears Group plc revised earnings guidance for the full year 2021. Management and Development revenues are expected to normalise in the second half from their current elevated levels, the Board updates its previous guidance for the full year Fiscal Year 20213 to revenue of £840 million. Mears previously provided guidance on 12/05/21 for full year Fiscal Year 2021 showed revenues ranging from £770 million - £820 million. Reported Earnings • May 30
Full year 2020 earnings released: UK£0.11 loss per share (vs UK£0.15 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£805.8m (down 8.6% from FY 2019). Net loss: UK£12.3m (down 173% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Reported Earnings • May 13
Full year 2020 earnings released: UK£0.11 loss per share (vs UK£0.19 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£805.8m (down 11% from FY 2019). Net loss: UK£12.3m (down 159% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • May 12
Mears Group plc Provides Earnings Guidance for the Year 2021 Mears Group plc provided earnings guidance for the year 2021. For the year, the company expected revenue in the range of £770 million to £820 million. Announcement • Mar 27
Mears Provides Financial Guidance for the Second Half and Ended 31 December 2020 Mears provided financial guidance for the second half and ended 31 December 2020. The Group should deliver second half revenues of £413 million.
The group expects to report full year 2020 Continuing revenues of £811 million (2019: £884 million). Is New 90 Day High Low • Feb 26
New 90-day high: €1.94 The company is up 11% from its price of €1.76 on 27 November 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.09 per share. Is New 90 Day High Low • Jan 07
New 90-day high: €1.79 The company is up 47% from its price of €1.22 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.04 per share. Announcement • Nov 07
Funds advised by Apse Capital Limited entered into a conditional agreement to acquire TerraQuest Solutions Limited from Mears Group plc (LSE:MER) for a maximum valuation of £72 million. Funds advised by Apse Capital Limited entered into a conditional agreement to acquire Terraquest Solutions Limited from Mears Group plc (LSE:MER) for a maximum valuation of £72 million on November 5, 2020. The consideration is before locked box adjustments and on a cash and debt free basis. The transaction consideration will be paid through an initial payment of £57.6 million plus an amount of further consideration equal to £6,112 per day for the period from the date of the agreement to the date of completion, payable in cash at completion, the issuance of 0.06 million B ordinary shares in the indirect owner of the buying entity, the issuance of a loan note with an aggregate nominal value of £3.2 million accruing an interest rate of 10 % per annum payable upon redemption of the loan notes and an earnout consideration for a maximum amount of £10 million payable in cash conditional upon the TerraQuest Group achieving an aggregate EBITDA of £9.5 million in the financial year ending on December 31, 2021. If the TerraQuest Group does not achieve the £9.5 million EBITDA target, £5 million in deferred consideration will be payable in cash and, provided the aggregate EBITDA in the financial year ending on December 31, 2021 is greater than that of the previous financial year, an additional £0.33 million is payable in cash for every £0.1 million of EBTIDA achieved in the Earn Out Period in excess of £8 million up to EBITDA of £9.5 million.
As at June 30, 2020, the TerraQuest Group had gross assets of £17.1 million. The deal is subject to the approval of Mears Shareholders and the consent of TerraQuest's joint venture partner MHCLG and is expected to complete in early December 2020. The proceeds from the disposal of the TerraQuest Group will be used to reduce the Continuing Group's indebtedness. The disposal will have the net effect, after taking into account any interest cost saving from reducing indebtedness, of reducing the Continuing Group's profit before tax and is expected to be dilutive to the earnings per share of the Group for the current financial year and beyond. Daniel Adams, Virginia Bull and Will Fenby of Investec Bank plc acted as financial advisor to Mears in the transaction. Is New 90 Day High Low • Oct 30
New 90-day low: €1.17 The company is down 23% from its price of €1.51 on 31 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.01 per share. Announcement • Oct 01
Cera Care Limited acquired England and Wales Domiciliary Care business of Mears Group plc (LSE:MER) for £5 million. Cera Care Limited acquired England and Wales Domiciliary Care business of Mears Group plc (LSE:MER) for £5 million on February 3, 2020. The consideration shall comprise a cash consideration of £4 million payable on completion, and a further £1 million of deferred consideration receivable over the coming twelve months. In the year ended December 31, 2019, England and Wales Domiciliary Care business generated revenues of £36 million. The disposal will result in around 1,500 employees leaving Mears Group up across 18 branches. The proceeds from the disposal will be used to reduce Mears Group’s indebtedness.
Cera Care Limited completed the acquisition of England and Wales Domiciliary Care business of Mears Group plc (LSE:MER) on February 3, 2020. Richard Spedding, Madeleine Gowlett, Adam Wyman and Andrew-Gofton-Salmond of Travers Smith LLP acted as legal advisors to Mears Group and Tim M. Stead of Squire Patton Boggs (UK) LLP acted as legal advisor to Cera Care. Announcement • Sep 29
Cera Care Limited acquired Scotland Domiciliary Care business from Mears Group plc (LSE:MER) for £2.5 million. Cera Care Limited acquired Scotland Domiciliary Care business from Mears Group plc (LSE:MER) for £2.5 million on September 28, 2020. Cera Care Limited will pay £2.0 million on completion and a further £0.5 million of deferred consideration receivable twelve months from completion. In the year ended December 31, 2019, Scotland Domiciliary Care business reported revenues of £21.7 million and profit contribution, after an allocation of support costs, of circa £0.6 million. The proceeds from the disposal will be used to reduce the Mears Group plc group indebtedness.
Cera Care Limited completed the acquisition of Scotland Domiciliary Care business from Mears Group plc (LSE:MER) for £2.5 million.