Mears Group has reported "continued strong momentum" in its trading statement.
The Gloucestershire-based firm said that it has experienced strong trading in the first five months of its financial year, with continued elevated revenues, improving operating margins and "excellent" cash performance.
In a statement, the AIM-listed firm, which employs more than 5,000 people, said: "As a result of this continued strong momentum, the Board expects full year profits to be materially ahead of current market expectations."
Mears is due to release its interim results for the six months to June 30 2023 on August 3 2023.
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Last month Mears confirmed it will return up to £20m in surplus capital to shareholders through a new share buyback programme.
The housing and social care provider said it would reduce its own share capital during the 18-month scheme, with any ordinary shares repurchased by the group during the period to be cancelled.
In April, Mears said said its revenues were up year-on-year by 9% to £959m.
David Miles, chief executive of the group, commented: "I am delighted with the strong performance of the group, and these are a terrific set of financial results. Our market leading position, based on a clear strategy and resilient operating platform, has underpinned this performance, and positions the group for further sustainable growth in the medium-term."
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