TClarke order book soars to record £543m

Aaron Morby 4 months ago
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Building services specialist TClarke started the year with a record order book worth £534m after a strong performance in the second half of 2021.

TClarke is now open to taking on larger projects of £10m-plus outside of London
TClarke is now open to taking on larger projects of £10m-plus outside of London

Announcing bumper results, chief executive Mark Lawrence said the business was now firmly in expansion, widening its horizons to win large projects outside of London and targeting data centre and healthcare work.

Lawrence said: “The business is in excellent shape having finished 2021 on a high and delivering the first year of our £500m revenue growth plan, winning a wide range of work across our chosen market sectors.

“This is clearly reflected in the strength of our order book which again has reached a new record high.”

Last year revenue rebounded 41% to £327m as the pandemic eased generating a pre-tax profit of £7.8m up from £1.2m in 2020.

This saw TClarke achieve a group-wide operating margin of 2.7% leaving room for further improvement.

TClarke regions
Revenue Trading profit Margin
2022 2021 2022 2021
London £189m £135m £6.2m £4.9m 3.3% (3.6%)
UK South £67m £55m £2.6m £2.7m 3.9% (4.9%)
UK North £71m £42m £3m £0.7m 4.2% (1.7%)

 

Lawrence added: “During 2021 we expanded our capacity in our Engineering Services Divisions in Falkirk, Peterborough and Newcastle; the increased opportunities are now translating into additional revenues for these locations.

“Teams in Manchester and Peterborough have been successful in securing four projects valued in excess of £25m for an international financial institution at several locations including two solar farm projects covering 1,800 m2 and our new Oxford office celebrated its successful opening by securing a project at the prestigious Oxford Saïd Business School.”

At the end of 2021, TClarke was active on 5 data centre projects with a collective value of £150m. Depending on the pace of it clients’ expansion plans this value could grow by negotiation by an additional £75m.

TClarke said it was now tracking bidding opportunities of around £900m and a further pipeline of project opportunities that will build out well into 2026

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