The company said its care division made gains, with revenue up 4.5% to
Mears said this growth includes a full six months contribution from
The company said it enjoyed its most successful period to date in terms of new contracts for the care division.
However, the social housing division saw revenue fall to
Morrison, which delivers services to social housing clients in the
As stated in the company full-year results in March, revenue for Morrison in 2013 benefited from a non-recurring spike in revenue in the period immediately following its acquisition. After stripping out the non-recurring revenue from Morrison, organic growth in social housing was 3% in the first half 2014, Mears said.
Mears said it continues to see an increasing number of new in-sourcing contracts which provide an opportunity to deliver higher margins with a low revenue and working capital requirement.
The company now is hoping to enhance the social housing division through a housing management services unit. The aim of the business will be to provide housing and property management services to public sector customers.
Looking ahead, Mears said expects its core social housing business to continue to growth through further contract wins. The company also said it will make regional in-fill acquisitions where appropriate to add to the unit.
"We have had a good first half year and, notwithstanding the temporary delays in tendering new opportunities, the board expects earnings for the full year to be in line with its expectations," Chief Executive
On the back of its performance Mears increased its interim dividend to
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