Upcoming Dividend • Jun 11
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 British dividend payers (5.7%). Higher than average of industry peers (2.2%). Recent Insider Transactions Derivative • May 13
CFO & Executive Director exercised options and sold UK£434k worth of stock On the 8th of May, Andrew C. Smith exercised options to acquire 108k shares at no cost and sold these for an average price of UK£4.00 per share. This trade did not impact their existing holding. Since September 2025, Andrew C. has owned 500.04k shares directly. Company insiders have collectively sold UK£618k more than they bought, via options and on-market transactions in the last 12 months. 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 Board Change • Apr 02
Less than half of directors are independent Following Non-Executive Director Oriana Tickell's arrival on 01 April 2026, 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. Declared Dividend • Mar 30
Final dividend increased to UK£0.12 Dividend of UK£0.12 is 5.8% higher than last year. Ex-date: 18th June 2026 Payment date: 9th July 2026 Dividend yield will be 5.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 33% over the next 3 years. However, it would need to fall by 65% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Mar 29
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: UK£0.56. Revenue: UK£1.14b (flat on FY 2024). Net income: UK£46.2m (flat on FY 2024). Profit margin: 4.1% (in line with FY 2024). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is expected to decline by 4.8% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in the United Kingdom are expected to grow by 4.4%. 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. Buy Or Sell Opportunity • Jan 28
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.4% to UK£3.72. The fair value is estimated to be UK£3.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to decline by 8.7% in 2 years. Earnings are forecast to decline by 24% in the next 2 years. 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. Upcoming Dividend • Sep 04
Upcoming dividend of UK£0.056 per share Eligible shareholders must have bought the stock before 11 September 2025. Payment date: 02 October 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.5%). Reported Earnings • Aug 12
First half 2025 earnings released: EPS: UK£0.29 (vs UK£0.24 in 1H 2024) First half 2025 results: EPS: UK£0.29 (up from UK£0.24 in 1H 2024). Revenue: UK£559.4m (down 3.6% from 1H 2024). Net income: UK£23.8m (up 4.5% from 1H 2024). Profit margin: 4.2% (up from 3.9% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 6.1% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in the United Kingdom are expected to grow by 3.8%. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 10
First half dividend increased to UK£0.056 Dividend of UK£0.056 is 18% higher than last year. Ex-date: 11th September 2025 Payment date: 2nd October 2025 Dividend yield will be 4.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 40% over the next 3 years. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range. 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. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Jun 12
Upcoming dividend of UK£0.11 per share Eligible shareholders must have bought the stock before 19 June 2025. Payment date: 10 July 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.6%). Buy Or Sell Opportunity • Jun 06
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 9.3% to UK£4.13. The fair value is estimated to be UK£3.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to decline by 6.9% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. 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. Buy Or Sell Opportunity • May 21
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.6% to UK£3.98. The fair value is estimated to be UK£3.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to decline by 6.9% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. Buy Or Sell Opportunity • May 02
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to UK£4.06. The fair value is estimated to be UK£3.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to decline by 6.9% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. Declared Dividend • Apr 17
Final dividend increased to UK£0.11 Dividend of UK£0.11 is 21% higher than last year. Ex-date: 19th June 2025 Payment date: 10th July 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 34% over the next 3 years. However, it would need to fall by 65% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 15
Mears Group plc, Annual General Meeting, Jun 04, 2025 Mears Group plc, Annual General Meeting, Jun 04, 2025. Reported Earnings • Apr 11
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: UK£0.50 (up from UK£0.33 in FY 2023). Revenue: UK£1.13b (up 4.0% from FY 2023). Net income: UK£46.5m (up 32% from FY 2023). Profit margin: 4.1% (up from 3.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is expected to decline by 6.9% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in the United Kingdom are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. 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 UK£91k worth of stock On the 6th of November, Andrew C. Smith bought around 25k shares on-market at roughly UK£3.64 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 UK£156k. Major Estimate Revision • Nov 03
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from UK£1.10b to UK£1.13b. EPS estimate increased from UK£0.416 to UK£0.463 per share. Net income forecast to shrink 7.2% next year vs 30% growth forecast for Commercial Services industry in the United Kingdom . Consensus price target of UK£4.50 unchanged from last update. Share price rose 5.2% to UK£3.54 over the past week. 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 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to UK£3.24, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Commercial Services industry in the United Kingdom. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£3.53 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 British dividend payers (5.5%). Higher than average of industry peers (2.1%). Major Estimate Revision • Aug 15
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from UK£1.05b to UK£1.10b. EPS estimate increased from UK£0.37 to UK£0.417 per share. Net income forecast to shrink 16% next year vs 29% growth forecast for Commercial Services industry in the United Kingdom . Consensus price target of UK£4.50 unchanged from last update. Share price rose 7.5% to UK£3.66 over the past week. 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 the United Kingdom are expected to grow by 4.7%. 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 UK£540k worth of stock On the 20th of June, David Miles sold around 150k shares on-market at roughly UK£3.61 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 UK£792k 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: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 11%. 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 the United Kingdom are expected to grow by 4.8%. 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 increased to UK£0.093 Dividend of UK£0.093 is 28% higher than last year. Ex-date: 27th June 2024 Payment date: 16th July 2024 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. 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. Major Estimate Revision • Apr 18
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from UK£968.5m to UK£1.00b. EPS estimate increased from UK£0.285 to UK£0.344 per share. Net income forecast to shrink 1.6% next year vs 15% growth forecast for Commercial Services industry in the United Kingdom . Consensus price target up from UK£4.08 to UK£4.27. Share price fell 3.2% to UK£3.61 over the past week. Reported Earnings • Apr 12
Full year 2023 earnings: Revenues and EPS in line with analyst expectations 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 was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. 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 the United Kingdom are expected to grow by 5.4%. 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 • Apr 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.4% to UK£3.61. The fair value is estimated to be UK£3.01, 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. Buy Or Sell Opportunity • Mar 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to UK£3.56. The fair value is estimated to be UK£2.96, 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. Buy Or Sell Opportunity • Feb 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to UK£3.53. The fair value is estimated to be UK£2.91, 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. Price Target Changed • Jan 11
Price target increased by 35% to UK£4.08 Up from UK£3.03, the current price target is an average from 4 analysts. New target price is 19% above last closing price of UK£3.43. Stock is up 65% over the past year. The company is forecast to post earnings per share of UK£0.29 for next year compared to UK£0.25 last year. 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 British dividend payers (6.3%). Higher than average of industry peers (1.7%). Recent Insider Transactions • Sep 14
Interim Independent Chairman recently bought UK£83k worth of stock On the 11th of September, Jim Clarke bought around 30k shares on-market at roughly UK£2.76 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. Price Target Changed • Aug 03
Price target increased by 13% to UK£3.23 Up from UK£2.86, the current price target is an average from 4 analysts. New target price is 15% above last closing price of UK£2.81. Stock is up 41% over the past year. The company is forecast to post earnings per share of UK£0.26 for next year compared to UK£0.25 last year. 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 British dividend payers (6.0%). Higher than average of industry peers (1.6%). 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. Major Estimate Revision • May 06
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from UK£860.0m to UK£904.6m. EPS estimate increased from UK£0.206 to UK£0.234 per share. Net income forecast to shrink 5.6% next year vs 15% growth forecast for Commercial Services industry in the United Kingdom . Consensus price target up from UK£2.74 to UK£2.86. Share price rose 4.3% to UK£2.31 over the past week. Reported Earnings • Apr 30
Full year 2022 earnings: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 7.7%. 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 the United Kingdom are expected to grow by 9.4%. 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 10% 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. 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 British dividend payers (6.1%). Higher than average of industry peers (1.5%). 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 13% growth forecast for the industry in the United Kingdom. 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 9% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 22
Price target increased to UK£2.66 Up from UK£2.47, the current price target is an average from 4 analysts. New target price is 37% above last closing price of UK£1.94. Stock is up 2.6% over the past year. The company is forecast to post earnings per share of UK£0.14 for next year compared to UK£0.12 last year. Price Target Changed • May 24
Price target decreased to UK£2.47 Down from UK£2.66, the current price target is an average from 4 analysts. New target price is 26% above last closing price of UK£1.96. Stock is up 4.0% over the past year. The company is forecast to post earnings per share of UK£0.14 for next year compared to UK£0.12 last year. 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: 4.1%. Lower than top quartile of British dividend payers (4.8%). Higher than average of industry peers (2.0%). Recent Insider Transactions • Apr 27
CFO & Executive Director recently bought UK£51k worth of stock On the 22nd of April, Andrew C. Smith bought around 26k shares on-market at roughly UK£1.99 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 UK£91k worth in shares. Buying Opportunity • Apr 05
Now 20% undervalued Over the last 90 days, the stock is up 5.8%. The fair value is estimated to be UK£2.51, 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 9.5% growth forecast for the industry in the United Kingdom. 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 4% per year, which means it has not declined as severely as earnings. 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. 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 British dividend payers (4.0%). Higher than average of industry peers (1.3%). 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 71 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 16% per year, which means it has not declined as severely as earnings. Price Target Changed • Mar 22
Price target increased to UK£2.23 Up from UK£1.99, the current price target is an average from 4 analysts. New target price is 20% above last closing price of UK£1.86. Stock is up 28% over the past year. Is New 90 Day High Low • Feb 25
New 90-day high: UK£1.67 The company is up 5.0% from its price of UK£1.59 on 26 November 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Commercial Services industry, which is also up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£1.36 per share.