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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Mears Group
Mears Group (MER) investor relations material
Mears Group H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary6 Aug, 2026
Executive summary
Achieved strong progress against financial and strategic objectives for H1 2026, with full-year guidance confirmed.
Maintained high contract retention and secured significant new contracts, driving order book to a record £4.2bn.
Completed integration of Pennington Choices, enhancing compliance capabilities.
Divested non-core Facilities Management business for £18m, simplifying operations.
Financial highlights
Group revenue (excluding divested FM) rose 2% to £555.6m year-over-year; Maintenance-led revenue up 7%, Management-led down 3%.
Adjusted profit before tax down 10% to £28.9m; statutory profit before tax up 18% to £38.0m due to profit on disposal.
Adjusted diluted EPS fell 9% to 25.26p; statutory diluted EPS up 30% to 36.01p.
Interim dividend increased 11% to 6.20p per share.
EBITDA to operating cash conversion at 92%; average daily net cash £29.7m, down from £67.7m.
Outlook and guidance
Full-year FY26 guidance maintained: revenue ~£1,038m, adjusted PBT ~£50.7m.
Maintenance-led revenue growth expected at 8-9% for FY26; Management-led revenues to decline as AASC normalises.
Adjusted operating margin guided at 5.0-5.2% (pre-IFRS 16) for FY26, with medium-term target of 5-6%.
Strong pipeline and low contract renewal risk support medium-term growth.
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Latest events from Mears Group
- Secured £1.5bn in new orders and a £150m contract, with results on track to meet expectations.MER
Trading update - 12% maintenance-led revenue growth and record order book drive robust outlook.MERH2 2025
- Maintenance-led revenues up 10%, profit at top end of guidance, and strong contract retention.MERTrading update
- Profit and margins rose, driven by Maintenance growth and strong contract retention.MERH1 2025
- Upgraded full-year outlook driven by strong H1 trading and growth in maintenance services.MERTrading Update
- FY24 profit and revenue forecasts upgraded on strong trading and margin improvements.MERTrading Update
- Double-digit revenue and profit growth in H1 2024, with robust outlook and major contract wins.MERH1 2024
- Mears expects FY24 profit and revenue to surpass market forecasts, driven by strong H1 trading.MERTrading Update
- Profit and margins surged on organic growth and new contracts, with 2025 guidance raised.MERH2 2024
Next Mears Group earnings date
H2 202625 Mar, 2027
Mears Group
Next Mears Group earnings date
H2 202625 Mar, 2027
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Frequently asked questions
Mears Group PLC provides a range of outsourced services to the public and private sectors in the United Kingdom. It operates through four divisions: Mears Care, Housing, Retirement Living and Support Solutions. The Mears Care division provides home care services to vulnerable adults who are largely dependent on others to meet their daily needs, including older people, younger people, and others with mental or physical health needs, including learning disabilities or sensory impairments. The company was founded in 1988 and is headquartered in Gloucester, the United Kingdom.