Mears has a robust order book

Shares in social housing and care provider Mears rose 3.2 per cent yesterday on news that contract successes have pushed it almost all the way to meeting the market’s revenue expectations for 2012. The company said its order book has risen to £2.8bn. The strong pipeline means that the company has booked 93 per cent of 2012’s forecast revenues and 78 per cent of 2013’s, and there could be more to come. The group said there is immediate bidding opportunity for further contracts due to start over the course of 2012 worth £1.1bn. In total, the bid pipeline has a value of more than £3bn.