Revenues drop for Mears but care turnover rises

Homecare provider Mears Group experienced a 3% drop in revenues for the year ended 31 December 2014, from £865.6m to £838.7m.Turnover, however, in its care division, however, rose by 1% from £123.1m to £124m. Costs of sales for the group fell from £641.1m to £613.7m. After administrative expenses of £182m (2013: £183.3m) and amortisation of acquisition intangibles of £12.3m (2013: £10.9m) were deducted, Mears made an operating profit of £30.7m (2013: £23.6m).