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The Group has performed well and traded resiliently through another lock-down impacted reporting period.
£443.7m
Group revenue (H1 2021)
£2.5bn
Order book
£11.1m
Adjusted profit before tax
60%
New bid conversion rate
After a period of strategic transition and Covid-19 disruption, Mears has a clear and focussed strategy to be the leading services provider to local and central Government in the affordable housing sector." Kieran Murphy Chairman
"The business is in good shape and with the long-term challenges of affordable housing, public health and climate change high on the political agenda at local and central Government, we look forward to the future with confidence. David Miles Chief Executive Officer
Revenue
Our business is in good shape and demand for our specialist range of housing services has never been greater.
Maintenance-led activities saw improving volumes and revenues through the first half.
Management-led activities continued to enjoy elevated volumes throughout period.
Order book
The order book stands at £2.5bn (31 December 2020: £2.6bn), reflecting the timing of contract renewals over the last twelve months.
The Group secured maintenance-led contracts in 2021 valued at over £150m with a win rate (by value) of 60%.
The key orders secured are detailed in the table above.
Return to dividend list
Given the return of normalised trading arrangements across the business, the strong cash performance and positive pipeline outlook, the Board is delighted to return to the dividend list for the six months ended 30 June 2021.
The Board is recommending an interim dividend of 2.50p per share (FY 2020: nil).
