T Clarke looks at new markets as margins stay tight

Grant Prior 12 years ago

T Clarke said its strategy of targeting prestige projects in its traditional M&E market and widening its focus in new sectors is paying-off with a resilient set of full year results released today.

The quoted M&E specialist saw turnover tick-up to £183.8m for the year to December 31 2011 from £179m last time while pre-tax profit fell to £4.9m from £5.7m.

The company is working on some of the highest profile jobs in the country including the Walkie Talkie tower and the Shard in central London.

Chief executive Mark Lawrence said: “We are trusted on the most complex and large scale projects.”

T Clarke’s southern division was the main driver of the numbers making £1.7m from a £117m turnover at a profit margin of 1.5% – down from 4.3% last time.

In the North operating profit was £1.9m from £49.7m at a margin of 3.8% while the Scottish business made a loss of £700,000 on a turnover of £17m.

T Clarke is now expanding in seven other sectors outside of the core M&E division.

They are: Intelligent Buildings, Facilities Management, Green Technologies, Rail, Utilities and Technologies, Manufacturing and Residential and Hotels.

Lawrence said: “Our markets remain challenging, but we are pleased with the group’s performance, which demonstrates the resilience of T Clarke.

“The Board is encouraged that the mix of our business has broadened in line with our strategy of widening the range of services we offer.

“Looking ahead, we are well positioned.  In uncertain times the strength of our reputation is shining through.

“We are trusted by our clients and we continue to work alongside the top-tier of developers on many of the highest profile projects in the UK.

“As a result, our order book is strong and we are pleased with the diversity of our revenues.

“We have an encouraging number of opportunities to tender for projects across the full range of our eight target sectors.  In conclusion, we remain optimistic that we will continue to drive the business forward.”

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