The Mears Group Board has declared an interim dividend of 6.20p (2025: 5.60p) per share. This is not recognised as a liability at 30 June 2026 and will be payable on 1 October 2026 to shareholders on the register of members at the close of business on 11 September 2026. The shares will go ex-dividend on 10 September 2026.
Other financial highlights include:
Group revenues, before divested Facilities Management activities, increased by 2% to £555.6m (H1 2025: £544.2m). Strong growth in Maintenance-led activities (+7%), offset by anticipated reduction in Management-led revenues. This rebalancing between Maintenance-led and Management-led activities is a trend that is expected to continue.
Operating margin (pre-IFRS 16) reduced to 5.2% (H1 2025: 5.6%) owing to intensive period of new contract commencements but remains within stated range. Adjusted profit before tax decreased by 10% to £28.9m (H1 2025: £32.2m), in line with expectations and consistent with guidance.
EBITDA to Operating cash conversion at 92% (H1 2025: 105%) reflecting cash generative business model and quality of earnings.
Average daily net cash of £29.7m (H1 2025: £67.7m), the reduction reflects several cash outflows occurring over the course of the second half of 2025 and previously reported, including M&A, property acquisitions, an unwind of negative working capital and shareholder distributions. In addition, during the first half the Group utilised £13.6m in purchase of own shares.
Adjusted diluted EPS reduced by 9% to 25.26p (H1 2025: 27.82p) reflecting the profit reduction on a reducing share count.
