TClarke warns of uncertainty ahead after fifth year of growth

Aaron Morby 4 years ago
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Building services specialist TClarke notched up its fifth year of strong growth in 2019 delivering a 3% margin.

Pre-tax profit rose 15% to £9m on stable revenue of £335m as all regions delivered an uptick in performance.

London remained the core of the business delivering a reported profit of £8.2m (2018: £7.2m) and an operating margin of 4.1% (2018: 3.7%).

Iain McCusker, chairman said: “The group is in great shape. The results for the year were very encouraging and we have an excellent platform from which we will continue to make progress. 

“Clearly these results will be overshadowed by the global coronavirus pandemic. We as a business continue to follow the UK Government’s advice and direction and until the situation stabilises it is not possible to forecast the short-term impact on our industry.

“It is worth reminding our stakeholders that the group has a proud 130-year history and overcome many challenges. 

“Overall, TClarke is in a robust financial position and we remain optimistic about the long-term future positioning in our marketplace and we are well placed to face the challenges ahead.”

TClarke is debt-free with year-end cash of £12.4m. The firm said it had a £15m credit facility and £10m overdraft arrangement.

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