T Clarke plots three-year plan to top £500m revenue

Aaron Morby 2 years ago
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Building services specialist TClarke has set out ambitious growth plans to deliver £500m revenue within the next three years.

Mark Lawrence set out strategy to focus on five key growth sectors
Mark Lawrence set out strategy to focus on five key growth sectors

The growth push is being supported by a year-end record forward order book of £456m, up 13% on a year ago and a plan to expand five target markets:
Infrastructure; Residential and Hotels; FM; Engineering Services; Technologies

Mark Lawrence, Group Chief Executive Officer, said the business was now in good shape to grow strongly after facing ‘challenges like no other’ last year.

This saw revenue slump by nearly a third to £239m. But the firm managed to control costs at the height of Covid to deliver £1.2m pre-tax profit, down from £9m previously.

A swift restructuring programme which cost £3.7m has now reduced TClarke’s cost base by more than £4m annually.

Lawrence said TClarke had now set its sights on three years of strong growth supported by it record orderbook.

He said: “Following a slightly slower start we expect revenues and profit to build rapidly throughout the course of the second half of the year as our recently secured projects gain momentum.”

Lawrence added: “As we look forward the opportunities for growth before us are of a considerable scale, we are extremely well positioned to take advantage of opportunities particularly in Data Centres, Healthcare and Smart Building Technologies.

“We have set ourselves an ambitious three-year plan of £500m revenues; 2021 marks an exciting new chapter in the evolution of TClarke.”

 

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