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Mears boom

Social housing outfit Mears reaped the rewards of a £5 billion-a-year local government spending plan, producing a 42 per cent hike in pre-tax profits to £6.77 million in the year ended December 31, 2004, up from £4.8 million.Mears said its understanding of the fragmented social housing sector helped it raise turnover nearly 55 per cent to £172 million from £112.2 million in 2003 by winning partnership deals with Government clients.

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