AGM and Trading Update

RNS Number : 5573M

Clarke(T.) PLC

08 May 2015

 



TCLARKE PLC

AGM AND TRADING UPDATE

Ahead of the Annual General Meeting, being held today at 10.00am at 200 Aldersgate, St Paul's, London EC1A 4HD, TClarke plc ("TClarke" or the "Group") the building services group, issues a Trading Update covering the period from 1 January 2015 to date.

Trading

Trading for the year to date is in line with the Board's expectations. The first quarter is typically our slowest quarter and we maintain that it will be the latter part of the year before we begin to see meaningful margin improvement in our most competitive markets.

Order Book and Revenues

Our revenues to the 30^th April 2015 were £72 million (30^th April 2014 £70 million). In March we reported a record forward order book and we are pleased to report that this order book has been replenished and maintained at £300 million against £265 million as at the same time last year.

Overall the Group has secured 84% of its target revenues for 2015 which gives the Board confidence in the outlook for the year. There is a particular focus at TClarke Bristol / Cardiff and TClarke East where current secured revenues are lower than in comparison to the same period last year.

The recovery in our markets is clearly being driven from London and a number of the previously announced London schemes will begin to generate revenues from the third quarter. We have also recently agreed our revised contract sum for the 900,000 sq ft. office development which is now proceeding at 100 Bishopsgate and are now mobilising our design teams with our onsite activities scheduled to start in April 2016. We are currently bidding in limited competition for further London schemes worth in the region of £100 million.

The Group is benefitting from having maintained its core resource of engineers and skilled operatives during the downturn with many clients now expressing concerns regarding the availability of resources in the medium term. Supporting this strategy of home grown talent we intend to recruit 75 apprentices across the UK this summer.

The next update is scheduled for 4^th August 2015 with the release of the Group's interim results.

-ends-

Date: 8^th May 2014

For further information contact:

TClarke plc

Mark Lawrence

Group Chief Executive

Martin Walton

Finance Director

Tel: [phone]   

www.tclarke.co.uk   

N+1 Singer (Financial Adviser and Broker)

Sandy Fraser

Tel: [phone]

www.nplus1singer.com

Broker Profile

Simon Courtenay

Tel: [phone]

www.broker-profile.com

 

END

 

 

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