Mears Group PLC 2022 full year results; revised publication date (4443T)

TIDMMER

RNS Number : 4443T

Mears Group PLC

20 March 2023

Mears Group PLC

("Mears" or the "Group" or the "Company")

2022 full year results; revised publication date.

The Group's external auditor, Ernst & Young LLP (EY), has informed the Mears Board that, due to an unanticipated absence of the senior statutory auditor responsible for signing the Mears accounts, the senior statutory auditor will not be available to complete the audit process of the 2022 financials which were due to be released on 30 March.

EY has confirmed that prior to this absence, all audit procedures were progressing satisfactorily to achieve the planned release date of 30 March and has apologised unreservedly for this delay. As a result, due to this issue outside of the company's control, the release of the Group's preliminary results will be delayed. EY and the Company are currently working through the onboarding process for a new senior statutory auditor and a new proposed audit close timetable as soon as practicable. Once this process is complete, we will communicate the revised preliminary release date.

The Board of Mears emphasises that this delay is not because of any concerns relating to the 2022 financial statements.

For further information, contact:

 
    Mears Group PLC        Tel: [phone] 
    David Miles 
    Andrew Smith 
    Lucas Critchley 
 
    Numis Securities       Tel: [phone] 
    Julian Cater 
    Kevin Cruickshank 
 
    Panmure                Tel: [phone] 
    Tom Scrivens 
 
 

About Mears

Mears is the leading provider of services to the Affordable Housing sector, providing a range of services to individuals within their homes. We manage and maintain around 450,000 homes across the UK and work predominantly with Central Government and Local Government typically through long-term contracts. We equally consider the residents of the homes that we manage and maintain to be our customers, and we take pride in the high levels of customer satisfaction that we achieve.

Mears currently employs around 5,500 people and provides services in every region of the UK. In partnership with our Housing clients, we provide property management and maintenance services. Mears has extended its activities to provide broader housing solutions to solve the challenge posed by the lack of affordable housing and to provide accommodation and support for the most vulnerable.

We focus on long-term outcomes for people rather than short-term solutions and invest in innovations that have a positive impact on people's quality of life and on their communities' social, economic, and environmental wellbeing. Our innovative approaches and market leading positions are intended to create value for our customers and the people they serve while also driving sustainable financial returns for our providers of capital, especially our shareholders.

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March 20, 2023 03:00 ET (07:00 GMT)