Last checked at 10 May 2023 07:00
TClarke plc
AGM AND TRADING UPDATE
Strong Trading Continues In Line With Market Expectations
Increased Revenue Visibility Outside of London
Ahead of the 111th Annual General Meeting, being held today at 10.00am at 30 Crown Place, Earl Street, London EC2A 4ES, TClarke plc ("TClarke", the "Group" or the "Company"), the Building Services Group, issues a Trading Update covering the period from 1 January 2023 to date.
The Group is pleased to report that trading in the early months of 2023 has continued to be strong. The Board remains highly condent that the Group will successfully deliver its growth strategy so that our revenues will exceed £500m for the first time in the current year.
Our forward order book has been replenished and so far during 2023 it has been strengthened significantly. The forward order book now stands at £720m (2022: £585m) and TClarke is well-positioned to manage additional revenues in our various market sectors.
The Group has proactively invested in resources and capacity to support its growth ambitions, resulting in TClarke being well prepared for potential future opportunities and challenges.
An important message when compared to previous years, is the increased visibility of our revenues outside of London, through the growth of our work in the healthcare sector and larger projects. Our infrastructure sector order book for example, which includes projects in Healthcare, has increased by £65m since the start of 2023.
Whilst maintaining our strict selective approach to tendering, the Board is encouraged by the strength of our position in the market and it expects the Group's growth to continue into 2024.
Overall, the outlook for TClarke continues to be very positive and we look forward to reporting on the progress that we make over the remainder of the year.
Mark Lawrence, CEO, commented:
"The Group's continued confidence in delivering a strong full-year performance in line with the market expectations is reassuring and is an indication of the Company's clear understanding of its capabilities and of its ability to manage its resources effectively.
TClarke has a strong management team, a clear strategic vision, and a solid operational structure, which positions us well for future success".
The next update is scheduled for 13 July 2023 with the release of the Group's Half Year results for the six months ending 30 June 2023.
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10 May 2023
For further information contact:
TClarke plc
Mark Lawrence, Group Chief Executive
Trevor Mitchell, Finance Director
Tel: 020 7997 7400
http://www.tclarke.co.uk
Cenkos Securities plc (Corporate Broker)
Ben Jeynes (Corporate Finance)
Alex Pollen (Sales)
Tel: 020 7397 8900
http://www.cenkos.com
RMS Partners
Simon Courtenay
Tel: 020 3735 6551
http://www.rmspartners.co.uk