T Clarke soars to record first half revenue

Aaron Morby 5 months ago
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Building services contractor T Clarke has delivered record £200m turnover in the first six months of the year after strong growth in London.

Lawrence says the specialist delivered revenue growth across all regions
Lawrence says the specialist delivered revenue growth across all regions

The near 50% jump in revenue has put the business on track to hit £450m revenue by the end of the year.

Growth in revenues was supported by maintaining the firm’s operating margin close to target levels at 2.9% – again driven by the London business.

This helped interim pre-tax profit to more than double to £5.5m from £1.9m previously.

The specialist M&E contractor’s order book rose 17% to £586m putting it on track for a bumper year.

Mark Lawrence, chief executive, said “With the current economic conditions, the business is rightly cautious, however the strategy we follow is of a disciplined tendering approach with early engagement with our supply chain partners and our clients which is ensuring we are not exposed to unnecessary risks. 

“The record half-year revenues and forward order book along with the current visibility of future workloads in our target revenue streams mean T Clarke now expects to deliver £450m revenue in 2022 and achieve its £500m target in 2023.

 

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