Clarke(T.) PLC
05 May 2006
T. Clarke plc
T CLARKE HERALDS IMPROVING ORDER BOOK
Speaking at today's Annual General Meeting, Russell Race, Chairman of T. Clarke
plc, ('T. Clarke') the Electrical engineering and contracting Group, will make
the following statement.
' The year has started well. There is a positive outlook in our core market, the
commercial property development sector. We are also pleased to report that the
prospects in our other regional markets made up of projects in the retail,
housing and education sectors remains upbeat.
' The Board is confident that the Group will report an upturn in our order book
through the latter half of 2006. Our current pipeline of work is strong. We are
anticipating a sharp upturn in the number of high quality projects commencing in
2007 and 2008 which will increase the demand for our specialist electrical
services in the 'build up' to 2012.
' During the first quarter, we are delighted to have secured work on some of the
most prestigious projects in London. These include work on the 201 Bishopsgate
and Broadgate tower schemes in the City, the 02 Dome, the Shell Centre and a
major redevelopment scheme at Greenwich Waterfront. Our current order book
stands at £200m.
' We are nearing the end of a cycle of flat growth and pressure on margins. Our
business is made up of a broad mix of long and short term contracts and is
therefore slower to respond to the well publicised sharp upturns and downturns
in the construction industry.
' We have had a good first quarter in order intake and we are experiencing a
slow improvement in margin recovery. We have the capacity in terms of resources
and management to meet the increasing demand for our services, which is likely
to benefit long-term margin improvement.
' We are alert to the sharp escalation in commodity prices, in particular steel
and copper and of the perceived shortage of skilled labour. We are confident
that the steps we have already taken will mitigate this risk.
' In conclusion the outlook, despite the challenging nature of our core markets
is good, and the Group is on course to meet current market expectations.'
-ends-
Date: 5th May 2006
For further information contact:
T. Clarke plc cityPROFILE
Pat Stanborough, Chief Executive Simon Courtenay
John Daly, Finance Director Andrew Harris
Tel: 020-7358-5000 Tel: 020-7448-3244
Web: www.tclarke.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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