Social housing and healthcare group Mears has had a tricky year. Unfounded allegations from the BBC, founder Bob Holt returning to take full control of the business after chief executive Stuart Black left the business - the company seemed to have lost its shine.
But today - despite these distractions - Mears produced a £3m jump in full year profits to £15.4m, analysts are forecasting £20m for this year, and it has a record order book of £1.4bn.
Holt says, "I have personally never been more excited about, nor committed to, the future of this group."
There have been suggestions Mears might bid for Nestor Healthcare, and company followers believe Nestor's domiciliary care business could be of interest. After all, Mears paid £24m for Careforce last April to get into this market. Could a break-up of Nestor be on the cards?
Mears shares have added 4p to 284p, while Nestor - which is also said to be in the sights of Assura, Allied Healthcare and private equity groups - is down 1.75p at 53.75p.
As an aside, how's this for a Life on Mars moment. Mears has won a contract with Birmingham City Council to take over repairs and refurbishment work, and this involves the transfer of around 300 staff. The 300 are very strongly unionised, and under their terms and conditions, they are apparently entitled to a free pint of milk a day. Mears would be wise not to mess with this perk.
