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TClarke shares boosted as it highlights resilient performance

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TClarke PLC (LON:CTO) told investors it continues to trade in line with expectations and said it is encouraged by its resilient performance.

The building services firm is expecting to report 2020 turnover of around £240mln and sees earnings (EBIT) for the year at around £6mln.

It noted that the company hit its first quarter earnings margin target of 3% and broke-even in the second quarter, whilst for the second half of the year the figure is expected to reach the targeted 3%.

The company highlighted that it has won new business in the second half, increasing its order book to £422mln. It described the achievement as “significant” and noted that it is £61mln higher than at the same point of 2019. Moreover, some £257mln of next year’s revenue has been so far secured.

“TClarke has once again demonstrated the direct benefits of our excellent reputation within our industry that has helped drive our clients’ continued confidence to work with us and award the group significant new projects,” said Mark Lawrence, chief executive.

“Looking to the future, we have a well-balanced approach to winning work with projects from a range of sectors and I am delighted that we have been so successful in the Healthcare and Technology sectors in particular.”

Lawrence added: “The UK Government recently announced a long-term commitment to developing further green initiatives covering clean energy, transport, nature and innovative technologies, that will help the UK to forge ahead with eradicating its contribution to climate change by 2050. 

“TClarke is well positioned to benefit from these initiatives and is already working on a wide range of exciting projects that support these moves.”

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