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TClarke underlying profits up

By BFN News | 07:34 AM | Tuesday 02 August, 2016


Building services group TClarke reports a solid first half performance with revenues from continuing operations rising to £121,6m from £107.3m last time. Underlying operating profits rose to £2.2m from £2.1m and reported operating profits of £2.1m were up from £2.0m last time. Pre-tax profits from continuing operations increased to £1.7m from £1.6m. The interim dividend of 0.5p per share is unchanged from a year ago. The group says: "Our forward order book, which reflects only contracts where we have a firm commitment to proceed, was fully replenished and at the period end stood at £320 Million (£320 Million 30th June 2015). The Group has secured the majority of its planned revenues for 2016. Additional revenue opportunity is being targeted in London and the South West where we have some spare capacity however we are confident that planned Group revenues for the year will be in line with expectations. "We work across a number of sectors and, although margins vary by sectors, they are showing cautious signs of improvement but we still have to be disciplined to avoid bidding wars driving prices down to unsustainable levels." Chief executive Mark Lawrence commented: "We are pleased to be presenting a solid performance based upon our strategy of targeting quality projects and clients and are excited about current bidding opportunities that will give us good revenue opportunities into 2017 and beyond." Story provided by StockMarketWire.com

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