Clarke(T.) PLC
16 November 2000
T.Clarke plc
Trading Update
As reported in T.Clarke's interim results statement for the six months ended
30th June 2000, which was released to the market on 18th August 2000, the
Company made a strong start to the year. Whilst the Directors are confident
of a satisfactory year end profit, since that statement the Company has
encountered some difficulties on a large hospital project and there is
currently some uncertainty with regard to the financial outcome of a City of
London project. These factors lead the Directors to expect that, whilst
profits for the year ending 31st December 2000 will be in line with those
achieved last year, the outcome will probably fall somewhat short of market
expectations.
The Company is focusing increasingly on end user, negotiated projects, with an
emphasis on selective tendering for higher margin and lower risk work, with
the intention of eradicating or at least minimising the difficulties and
uncertainties that have arisen on the projects referred to above. Excellent
market conditions are continuing in both the London and regional operations.
The Company is continuing to build its share in these market areas, with
orders running at record levels and a strong management team and substantial
workforce in place.
Regional operations are making an increasingly important contribution to the
Company and the benefits of the H&C Moore acquisition are coming through
strongly. Accordingly, the Company is in a strong position to continue its
growth record from 2001 onwards. In view of these excellent conditions, the
Directors anticipate increasing the current year's final dividend in line with
market expectations.
Date: 16th November 2000
For further information contact:
Patrick Stanborough, Managing Director T. Clarke plc 020 7358 5000
Jonathan Shillington City Profile 020 7726 8588
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