Clarke(T.) PLC
3 May 2002
T CLARKE ANNOUNCES FURTHER ACQUISITION
AS CHAIRMAN REPORTS
CONFIDENT OUTLOOK AT AGM
Speaking at today's Annual General Meeting, Russell Race, Chairman of T. Clarke
plc, ('T. Clarke') the Electrical engineering and contracting company, made the
following comments:
' The year has started well. The general level of enquiries from our customers
has remained at a favourable pitch and I am still confident of a satisfactory
outcome for the year.
' As you will be aware, in January we acquired GDI Electrical, based in
Altrincham, in line with our stated policy of regional expansion. I am pleased
to say that in the last two weeks we have been able to further extend our
operations outside of London.
' On 19 April we acquired W.E. Manin Limited, based in Sittingbourne, Kent.
Employing 60 staff, Manin had a turnover of £4.26M in the year ended 31 December
2001 and generated pre-tax profits of £354,000. It has an excellent customer
base in Kent, including major companies like Pfizer and Shepherd Neame, as well
as regional contractors and local authorities.
' Many of you will be aware that we have been seeking an acquisition in the West
Midlands for some time now. I am pleased to announce that yesterday we completed
the acquisition of Kestrel Electrical Systems Ltd., based in Rowley Regis.
Employing only 13 staff, Kestrel had a turnover of £680,000 in their year ended
31 January 2002 and generated pre-tax profits of £159,000. Whilst obviously a
small business, we are confident of profitable growth and of opportunities for
our existing company, T. Clarke (Midlands) Ltd., based in Peterborough.
' I should like to conclude by reiterating my thanks - and those of the Board -
to all our staff for their commitment during the last year, which made it
possible to achieve what we believe to be excellent results. I also thank you,
our shareholders for your continuing support of T. Clarke and interest in our
affairs.'
-ends-
Date: 3 May 2002
For further information contact:
T. Clarke plc City Profile Group
Pat Stanborough, Managing Director Simon Courtenay
John Daly, Finance Director Ed Senior
Tel: 020-7358-5000 Tel: 020-7448-3244
Web: www.tclarke.co.uk e-mail: simon.courtenay@city-profile.com
This information is provided by RNS
The company news service from the London Stock Exchange
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