Interim Management Statement

RNS Number : 3217T

Clarke(T.) PLC

19 November 2013

 



Interim Management Statement

TClarke plc,("TClarke" or the "Group"), the Building Services Group, announces its Interim Management Statement covering the period from 1^st July 2013 to 18^th November 2013.

Current trading continues to meet the Board's expectations. However, we are finding it increasingly challenging to agree final accounts promptly. The timing of final account payments will determine our year end cash position, but in the meantime our balance sheet strength enables us to take a robust approach to contract negotiations.

Further demonstrating the resilience and high quality reputation of the business, our forward order book, supported by projects that have been secured recently, has grown to £252m (at 31^st October 2013).  This is an increase of 12% since our last update in August.

Notable contract awards during the period include;

M&E Projects

·     450 South Oak Way, Reading, Office Development

·     BBC Project Vesta, White City London

·     Bush House, Refurbishment of Former BBC World Service HQ, London

·     Deutsche Bank, Birmingham and London

·     DuPuy Synthes, Manufacturing Facility, Leeds

·     Homerton Hospital, London

·     Newlands Primary School, Leeds

·     Park Royal Fire Training Facility, London

·     Peterborough Football Club, Moy's End Stand 

·     Refurbishment of Santander Offices, Leeds

·     South Tyneside College, Tyne and Wear

·     Sudbury Health Centre, Suffolk

·     Westfield London, Original Retail Mall Extension

Residential Projects

·     Barratt Homes developments, Clydebank, Scotland

·     Cala Homes at Fairmilehead, Edinburgh

·     Millbay Apartments, Plymouth

·     Riverwalk House - Shell and Core, London

·     Taylor Wimpey developments, Motherwell and Bilston, Scotland

Transport

·     First Bus, Glasgow

·     London Overground, Silwood Sidings, London

·     DLR Asset Renewals Phase 2

Mission Critical

·     Pulsant, South London Data Centre Infrastructure Upgrades

Looking forward, there are a significant number of quality opportunities across our target markets. Throughout the Group current tendering activities remain high with a number of schemes due for construction commencing in 2014.

As others have reported, the UK construction market has been a challenging environment in which to win and deliver work, but the Board is cautiously optimistic that from the latter part of 2014, we will finally begin to see margin improvements within the business.

--------- ENDS ---------

Date 19^th November 2013

For further information contact:

TClarke plc
Mark Lawrence                            Martin Walton

Group Chief Executive                  Finance Director
Tel: [phone]                      Tel: [phone]

www.tclarke.co.uk    

N+1 Singer (Financial Adviser and Broker)

Sandy Fraser

Tel: [phone]

www.n1singer.com

Broker Profile

Simon Courtenay

Tamsin Shephard

Tel: [phone]

www.broker-profile.com

 

END

 

 

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