TClarke on track for £500m turnover this year

Aaron Morby 1 year ago
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Building service specialist TClarke is on track to hit its target of £500m revenue this year after strong trading in 2022 helped to build a pipeline of good orders.

Chief Mark Lawrence says targeting data centre work has paid off
Chief Mark Lawrence says targeting data centre work has paid off

In a trading update this morning for last year, chief executive Mark Lawrence said the order book had increased to £555m (2021: £534m) supporting the business’s growth ambitions.

He said the firm’s strategy focused on maintaining and developing our core markets while significantly expanding our data centre business had paid off.

TClarke is also now undertaking more large projects outside of London, expanding its healthcare offering and energy efficient smart building solutions.

For 2022, the specialist is now forecasting its will report in March record revenue up 30% to £425m.

Despite market cost pressures, TClarke said that pre-tax profit would rise in step by a third at around £10.3m.

Lawrence said: ”TClarke has had a tremendous year delivering a record level of turnover for the period and ending the year with an order book at a level that supports our £500m turnover target.

“We are on track to achieve our growth ambitions and I am extremely excited and confident for the outlook for TClarke.”   

Cash at the year-end was £22.5m (2021: £20.3m) with £15m (2021: £15m) drawn down on the group’s revolving credit facility.

TClarke’s average month-end net cash last year was £2.6m.   

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