Mears Share Discussion Threads

[johndoe23] 30/9/2024 12:12

No idea. The last trading update was an ahead of though.

[patsc100] 28/9/2024 09:50

Anyone any idea what is the normalized management-led revenue?

[johndoe23] 17/9/2024 09:00

Yes, 390p broken hopefully

[qs99] 17/9/2024 08:32

Getting closer to piling through £4! DYOR

[johndoe23] 11/9/2024 14:19

This time maybe?

[johndoe23] 29/8/2024 11:55

One of my few risers today

[qs99] 27/8/2024 06:47

Looking forward to another week of share buy-backs

[qs99] 23/8/2024 08:25

welcome on board!

Good opening buy back day, decent volume hoovered up. Just need sellers to dry up and we should IMO woosh through £4...DYOR

[morph7] 22/8/2024 10:32

That's Morph a bit late to the party, but better late than never as I see plenty of value at these levels. Took an initial stake today.Gl all

[qs99] 22/8/2024 10:17

Slow rise now to £4++, am suitably stocked up, as you say, trading backdrop should also be very encouraging....DYOR, am also well stocked up on KINO DYOR

[johndoe23] 22/8/2024 10:16

Also mews that there will be plenty of social housing restoration and upkeep next few years

[qs99] 22/8/2024 08:27

Cracking news, should see lots of loose holders hoovered up and price appreciation IMO....DYOR and looking forward now to breaking £4

[johndoe23] 22/8/2024 07:25

Buyback announced good news

[johndoe23] 12/8/2024 09:19

Not a material amount relevant to his holding, but good to see the CFO put his hands in his pocket.

[qs99] 12/8/2024 09:12

yes, good to see Mirabeau

[mirabeau] 12/8/2024 08:23

director buy

[skanjete2] 12/8/2024 07:45

They keep mentioning that the management-led business will normalise to a lower revenue level.

Does anyone know what these management-led activities actually comprise? Apparantly housing for homeless people for the government. Are there any other activities?

And is there any possibility to quantify what a "normalisation" means? At the moment, the management-led business is more than half the total business. What percentage of this will disappear over time and at what margins?

The shares seem very cheap, but is difficult to me to quantify the risks involved.

[qs99] 10/8/2024 09:04

Indeed, shame they can't get their shares motoring to then use the paper for M&A purposes

think others have mentioned, but a takeover of KINO for instance (i'm a long-term holder as well as this), but must be others....

DYOR

[johndoe23] 09/8/2024 09:44

No volume even with excellent interims, so far under the radar

[johndoe23] 08/8/2024 20:03

Favourable coverage on stockopedia today. Nothing amazing but amber/green rating

[qs99] 08/8/2024 15:03

Thanks thebd11, genuinely don't see how "asylum" policy would do anything but go UP for volumes under Labour no?!

Either way, I'm happy to keep taking the 4+% yield as downside IMO is limited....DYOR

[basem1] 08/8/2024 14:51

Why would government asylum policy have a negative effect I wonder ?

[thebd11] 08/8/2024 14:43

Peel..."Mears (MER LN) (Hold TP 380.0p) Strong 1H24 performance: new guidance drives 9% FY24 revenue increase... 1H24 PBT was £30.5m (+44% YoY), which is slightly ahead of our estimate. Adjusted EPS rose 68% (organically) and DPS increased 28% to 4.75p. The company reported strong cash generation, with average net cash of £66m. There are no major surprises in the trading commentary. We expect investor focus is likely to be on the increased guidance (following another positive trading update in June). The company now anticipates FY24 revenue to be c.£1.1bn (versus our prior estimate of £1.0bn) and adjusted PBT to be £53-55m (versus our prior estimate of £50m). The outperformance is driven by the visibility through FY24 (most specifically the asylum seekers volumes). We increase our FY24E PBT forecast from £50m (cons: £50m) to £54m, to give EPS of 41.1p. It remains challenging to assess when the elevated contract volumes will normalise. However, we also increase our FY25E PBT estimate from £39.0m (cons: £38.7m) to £42m, to give EPS of 32.2p. The shares have drifted down on concerns regarding government asylum policy uncertainties and currently trade on 11.2x December 2026E EPS."