AGM Statement

RNS Number : 9858K

TClarke PLC

11 May 2022

 

TClarke plc

AGM AND TRADING UPDATE

DATA CENTRES FUEL GROWTH IN REVENUES

Ahead of the Annual General Meeting, being held today at 10.00am at 200 Aldersgate,  London EC1A 4HD, TClarke plc ("TClarke" or the "Group"), the Building Services Group, issues a Trading Update covering the period from 1 January 2022 to date.

The Group is pleased to report that trading in the early months of the 2022 financial year has continued to be strong and the Group is very well placed to deliver year two of its three-year plan to achieve annual revenues of £500m. The Board remains very confident that revenues and profits for the year will be in line with market expectations.

For the year ending 31 December 2022, market expectations are forecast to be revenues of £410 million; EBITDA of £13.9 million; operating profit (EBIT) of £12 million and earnings per share (EPS) of 21p.

The Group is pleased with the continuing high quality of its forward order book, which as at 30 April 2022 is at a record high of £585 million (2021: £472 million).

The Group is maintaining historically high levels of orders across our core markets, with a strong pipeline of further potential opportunities across all of our target market sectors. As always, we focus on projects and schemes where clients have indicated that they are committed to proceeding.

The growth in order book is being fuelled most materially by data centres which are expected to account for one third of the Group's business by year end. The data centre market continues to be extremely buoyant and we expect the significant growth in this market to continue in the medium term.

Overall, the outlook for TClarke continues to be very positive and we look forward to reporting in due course on progress made during the remainder of the year.

The Group confirms that it will publish its Half Year results for the six months ending 30 June 2022 on 14 July 2022.

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11 May 2022

For further information contact:

TClarke plc

Mark Lawrence             

Group Chief Executive

Trevor Mitchell

Finance Director      

Tel: [phone]          

www.tclarke.co.uk

Cenkos Securities plc (Corporate Broker)

Ben Jeynes (Corporate Finance)

Alex Pollen (Sales)

Tel: [phone]

www.cenkos.com

RMS Partners 

Simon Courtenay

Tel: [phone]

 

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