Interim Management Statement

RNS Number : 4682W

Clarke(T.) PLC

19 November 2010

 



INTERIM MANAGEMENT STATEMENT

T. Clarke plc, ("T. Clarke" or the "Group") the Building Services Group, announces its Interim Management Statement covering the period from 1 July 2010 to 18 November 2010.  

At the end of the period under review, our order book remains strong, standing at approximately £180m (£220m June 2010).  Whilst we have seen no cancellation of work already won, a few schemes have been scaled back.  We continue to have a positive cash balance and no debt.  Trading during the period was as anticipated and, we expect results for the full year to be broadly in line with market expectations.

The Group continues to see opportunities across all geographies, although the markets in which we operate remain challenging and competitive and, margins remain under some pressure.  DGR Mechanical Services, acquired on 25 August 2010, has integrated well and is performing as expected. 

The Board is confident that the Group can maintain market share going forward, despite an uncertain outlook for the UK construction industry and there remain challenges in the short term. Management's focus is on obtaining new business and maintaining margins where possible, whilst ensuring T. Clarke's diverse geographic and sector exposure positions the Group ideally for the eventual upturn in market conditions. 

The Board believes that 2011 will be a challenging year, and will remain vigilant on costs as a result, but expects recent strategic acquisitions, a good order book and the Group's diversity to maintain the business in good shape.

-ends-

Date: 19 November 2010

For further information contact:

T. Clarke plc Mark Lawrence, Chief Executive   Martin Walton, Finance Director Tel: [phone]	City Profile Simon Courtenay Tel: [phone]
www.tclarke.co.uk

 

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