(Alliance News) - TClarke PLC on Wednesday said it was on track to achieving its 2023 GBP500 million revenue target, after reporting a double-digit percentage rise in revenue in 2022.
The London-based engineering services firm reported pretax profit of GBP10.3 million for 2022, up 32% from GBP7.8 million in 2021, while operating profit rose 31% to GBP8.8 million from GBP11.5 million.
Annual revenue increased 30% year-on-year to GBP426.0 million from GBP327.1 million. TClarke noted this was a record figure for the company and said it put it on course to achieve its target of GBP500 million in annual revenue in 2023.
Chief Executive Mark Lawrence said: "The group is in fantastic shape. We have an excellent order book of high quality projects across a wide range of sectors. The business is supported by our strong balance sheet, which continues to grow, with net assets increasing by 46% compared with 2021."
The company's closing forward order book stands at GBP555 million, up from GBP534 million at the same time at year prior. Of this, GBP430 million represents committed revenue for 2023.
TClarke proposed a final dividend of 4.1 pence per share, unchanged from a year prior. However, this would bring the total payout for 2022 to 5.35p, up 10% from 4.85p in 2021.
Shares in TClarke were up 3.1% at 149.50p on Wednesday afternoon in London.
By Heather Rydings, Alliance News senior economics reporter
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