Clarke(T.) PLC
20 September 2002
T. Clarke plc
ANNOUNCEMENT RE: CLOSURE OF SUBSIDIARY
The Board of T. Clarke Plc the electrical engineering and contracting company,
announces that it is to close down the loss-making operations of its South Coast
subsidiary Meggitt Marsh & Co. Ltd., based in Bournemouth. Meggitt Marsh was
purchased from the Receivers in June 1998; despite significant financial
investment in marketing and resources, there is no sign of a return to
profitability in the foreseeable future. The business will be run down and
operations will cease at the year end. Coverage of the South of England will be
maintained from the Group's Kent and Bristol Offices.
Full provision for contract losses and closure costs has been made, and these
will not have an adverse effect upon current market expectations for the year.
All of the Group's other subsidiaries are continuing to trade in line with our
forecasts and, the newly acquired businesses are also performing well.
-ends-
Date: 20 September 2002
For further information, please contact:
T. Clarke plc City Profile Group
Pat Stanborough, Managing Director Ed Senior
John Daly, Finance Director Simon Courtenay
Tel: 020-7358-5000 Tel: 020-7448-3244
web: www.tclarke.co.uk e-mail: edward.senior@city-profile.com
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.