Updates

Mears - Doubles order book after winning Richmond Â£130m contract

February 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Mears has been selected as preferred bidder to provide reactive and planned maintenance services to 6,500 rented homes and 1,500 leasehold properties in Richmond. The contract is with Richmond Housing Partnership, a registered social landlord which took transfer of Richmond's housing in 2000. The contract is worth Â£130m over a10 year period. In a single move, it doubles the size of the Mears long-tail order book to Â£280m and lifts the proportion of work coming from local authority, RSLs and the MOD; the attraction being that such contracting institutions don't cut back spending in a downturn. Next results are expected on 2 April. A main buy last March at 59p. Keep buying. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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