Last checked at 5 Jul 2010 07:00
Trading Update and Notice of Results
T.Clarke plc, the Building Services Group, today announces a trading update.
Overall the Group's business continues to trade in line with expectations and our forward order book has strengthened and stands at £220 million (2009: £170 million).
Integration of our recent acquisition, D&S Engineering Facilities ("D&S") continues to proceed as planned and is trading in line with our expectations. We intend to serve the North West region from a single division, D&S in Lancashire, with a reduced aggregate cost base and we are currently in the process of winding down our smaller operation, J.J. Cross, based in Preston.
The Group has maintained its positive cash position and has no borrowings.
As previously stated the main issue the Group faces is the timing and strength of the recovery in our markets. We operate in highly competitive markets where margins continue to be placed under pressure and the final award of a project in this current climate can be protracted. Our strategy is to focus on existing relationships with clients and contractors whose developments and projects are not affected by current government spending plans, whilst seeking out new and further opportunities in the markets we do not currently fully serve.
Whilst remaining cautious, our outlook for the remainder of 2010 remains unchanged and the Board continues to be confident in the long term strengths and resilience of the business.
The Group's interim results for the six months to 30th June 2010 will be announced on Friday 27th August 2009. An analyst presentation will be held at 9.30am on the day in the offices of City Profile, Augustine House, 6A Austin Friars, London, EC2N 2HA.
-ends-
Date 5th July 2010
For further information contact:
T. Clarke plcMark Lawrence, Chief Executive Tel: 020-7358-5000
City Profile Simon Courtenay Tel: 020-7448-3244