Clarke(T.) PLC
02 May 2008
AGM and Interim Management Statement
T. CLARKE POSITIVE ON TRADING
Ahead of today's Annual General Meeting to be held at Savoy Place, 2 Savoy Place,
London WC2R OBL at 12:00 noon, T.Clarke Plc ('The Group') announces its first
Interim Management Statement as required by the UK Listing Authority's
disclosure and transparency rules.
At the AGM, Russell Race, Non-Executive Chairman of T.Clarke will give the
following trading update for the period from 1st January 2008 to date:
'T. Clarke Plc has made a positive start to the year and is trading in-line with
current market expectations.'
'Revenue from our London Operations is much in-line with this stage last year
but is expected to gain pace throughout the course of the current financial
year. The turbulence within the financial market has had no effect on current
trading. We are well placed to benefit from a number of major projects in London
which are fully funded and expected to proceed to construction in the near
future. In fact, many new schemes are already under way.'
'The fit-out market which is not a key sector in our operations, being highly
competitive, low skill based and low margin, is expected to bear the brunt of
the credit crunch as occupiers delay taking space. A further positive aspect of
our business is that we expect to be invited shortly to bid for several
contracts for the Olympic programme and associated infrastructure works. We
shall exercise caution and be selective as to which projects we wish to be
considered for.'
'Our regional businesses continue to be very active across all disciplines;
retail, education, housing and transportation and we anticipate profitable
organic growth in all our regions. Our businesses in Scotland, Newcastle and
Derby have substantial order books with excellent visibility. Furthermore,
Aylward, our business in the Eastern Counties has made significant progress into
the Decent Homes and Affordable Housing programmes in its region.'
'We are focused on improving performance and margins throughout the Group, along
with positive cash generation. We are not considering any acquisitions at this
current stage, but we continue to keep a very close eye on the market.'
'The Group's order book currently stands at around £200m. We expect to secure
several high value projects between now and the date of our interim results
which should show our order book to be ahead of the same stage last year.'
'In conclusion, the financial position of the Group remains strong. We remain on
track for 2008 and our focus is on building a strong pipeline of work going into
2009-2010.'
-ends-
Date: 2nd May 2008
For further information contact:
T. Clarke plc City Profile
Pat Stanborough, Chief Executive Simon Courtenay
Victoria French, Finance Director William Attwell
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
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.