Mears’ (MER) housing division has suffered in the last year as property owners assessed their portfolios' safety and compliance standards following the tragedy at Grenfell Tower last June. While they did this, new work awards stopped. Mears’ housing division brought in £105m in new orders in the first half of 2017. In the second half, after Grenfell, this dropped to £45m.
327p
Now, though, things appear to be turning around. A pre-close trading statement from the group said many assessments had finished and housing revenues had stabilised. New orders rose to £70m.
