TClarke rides out site closures to deliver a profit

Aaron Morby 1 year ago
Share

Building services contractor TClarke expects to remain in the black this year after weathering the worst impact of coronavirus in the first-half of 2020.

Chief executive Mark Lawrence expects TClarke to remain profitable this year and is cautiously optinistic about 2021 prospects
Chief executive Mark Lawrence expects TClarke to remain profitable this year and is cautiously optinistic about 2021 prospects

The firm also reported a strong rebound in tender opportunities since April, bidding for £600m of projects, mainly in the datacentre and infrastructure markets.

Many of the specialist contractor’s key sites were closed for up to three months, knocking first-half revenue by 38% to just £106m.

TClarke enjoyed a strong first three months of 2020, maintaining its 3% underlying operating margin on a turnover of £70m.

But the lockdown impacted second quarter saw turnover fall to £36m. Even during this April – June period, TClarke achieved a small profit as it acted to swiftly to cut costs and utilise Government job retention support.

Overall underlying pre-tax profit for the half fell to £1.7m from £4.6m previously while underlying operating margins were held just above 2%.

Across the regions London and the South performed well remaining in the black with London delivering  3.2% margin.

The Northern business was the only division to fall into the red reporting a £200,000 loss mainly as a result of sites over large parts of the North West and Scotland being closed from March.

Mark Lawrence, chief executive, said: “TClarke has successfully remained profitable throughout the first half of this year.

“The group took early and decisive action to both protect and reposition our business and maximise the many opportunities available in the technology, data centre and infrastructure market sectors.

“The business has paid strict attention to cash collection and our cash position has improved to £7.5m after the cost of our restructuring programme.”

He said TClarke’s banking facilities of £25m have been renewed with the revolving credit facility  extended to August 2024.

“Our order book is strong and we have no shortage of opportunities in Data Centres and Infrastructure. Since the beginning of April we have bid £600m of opportunities,” he added.

 

Latest news

Massive Stewart Milne development goes into administration

Countesswells new town now in hands of administrators
12 hours ago

Ex-Laing O’Rourke boss to head rejigged BAM UK business

BAM names new chief for combined UK and Ireland businesses in growth push
17 hours ago

Robertson submits £150m Cardiff Arena plan

Arena work to start next Autumn with wider Atlantic Wharf regen scheme to follow
1 day ago

HS2 pioneers first ‘box-slide’ bridge over motorway

BBV will start initial site preparation over the Christmas holiday period
1 day ago

Rocks smash site huts as quarry blast goes wrong

Breedon Trading Ltd fined £300,000 after court hears worker was forced to run for cover
17 hours ago

Sellafield names £250m HVAC key delivery partners

Balfour Beatty Kilpatrick and EJ Parker Technical Services take first integrated team deal
2 days ago

Cut-price home builds quadruple maintenance cost

Mount Anvil study attempts to quantify link between Capex and Opex costs
18 hours ago

Ray O’Rourke to step down from Group Chief Executive role

New CEO Seamus French to join from mining giant Anglo American
2 days ago

TClarke on track for £500m revenue target

Orders surge to £525m setting fresh record for M&E specialist
2 days ago

Northern contractors still reeling from rail cancellations

Firms fear "economic black hole which will have a huge impact on regional SME contractors"
2 days ago

Go-ahead for McAlpine’s £43m Edinburgh concert hall job

Work to start next year on first concert venue in Edinburgh for over 100 years
2 days ago

Miller Homes fined £200,000 for polluting dyke

Court hears details of second incident at same Huddersfield site
2 days ago

Plans in for £60m Stoke goods yard quarter

Bowmer & Kirkland are working on the scheme under a pre-construction agreement
2 days ago

Quinn Infrastructure goes into administration

Rail M&E specialist contractor stops work on sites
3 days ago

Farrans to build £30m rotating Glasgow footbridge

Steel price rises blamed for 40% jump in rotating bridge cost
3 days ago

Brickability buys renewable energy specialist

Materials distributor buys new housing green energy specialist
3 days ago

RSK swoops for Yorkshire surveying specialist

Infrastructure surveying specialist Centara employs 60 staff
3 days ago

Former Amey director takes reins at renamed SSE Contracting

Zak Houlahan to lead Enerveo from December
3 days ago

Bouygues wins £30m Swansea zero carbon office

Firm to break ground in coming weeks on The Kingsway project
3 days ago

Sisk names new UK framework director

Rebecca Hartshorn to take on Scape framework development
3 days ago

Expanded starts work on giant HS2 station box

Construction will see 690,000 cubic metres of clay removed
4 days ago

Builders slam plans for electric car chargers in all new homes

Construction firms will foot the bill while electricity companies make the profits
4 days ago

Kier set for £32m Bournemouth council flats job

Work to start next year on four blocks of flats rising to 10 storeys
4 days ago

Severfield rises with record orders after strong first half

Orders soar to nearly £400m after Everton stadium award, shed and HS2 wins
4 days ago

Plans in for Manchester Red Bank enabling works

Council plans to spend £51m preparing way for up to 5,500 homes on old railway sidings
4 days ago

Triton bags biggest shed job yet

Firm eyes big shed delivery market after Stakehill 185 wins
4 days ago

Driver crushed between vehicles at builder’s merchant

Company fined £180,000 after court hears banksman had left yard area
4 days ago

£610m finance deal for Moda build-to-rent housing

£1.7bn Moda project pipeline targets Birmingham, Brighton & Hove and London
5 days ago

GMI names head for new North East business

GMI completes build-up of new north east team for regional expansion drive
4 days ago

National Highways halts first Smart motorway job

Balfour Beatty's £140m M3 smart motorway job put on hold
5 days ago

Contractor services