CTO.L Regulatory News (CTO)

YEAR END UPDATE CONFIRMS TRADING IN LINE WITH EXPECTATIONS

TClarke plc ("TClarke" or the "Group"), the Building Services Group, announces a trading update ahead of the announcement of its preliminary results for the year ended 31 December 2014.

Since the Interim Management Statement made on 8 October 2014 current trading has continued in line with the Board's expectations. Looking back 2014 has been a challenging year and we maintain a particular focus on closing out projects let during the recession to secure acceptable returns. We finished the year with an excellent and improved net cash position of £4 million (31 December 2013: £1 million). To an extent this reflects our normal cash collection cycle but we also view this as a lead indicator of an improving trend in our underlying performance.

Market conditions continue to improve, driven by London opportunities in particular, and the new business wins previously reported underpin the confidence which we see returning to our markets.

We are pleased to report an impressive replenished forward order book which as at 31 December, for the first time, exceeded £300m (31 December 2013: £250m).

We announced £75m of new project wins in London on 13 November 2014, including:

· Beaufort Park, Hendon

· London Wall Place

· One Angel Court

· Principal Place, Bishopsgate

· Rathbone Square

Further new project wins include:

· One Lusty Glaze luxury apartments, Cornwall

· Allestree Woodlands School, Derby

· Marine Renewables Business Park, Cornwall

· John Ray School, Braintree, Essex

· Humber University Technology College, Scunthorpe

· Suffolk New Academy, Ipswich

· West London Free School, Hammersmith

· Bridgemasters House, Tower Bridge London

· Summit House, London

· 600 residential units secured in Scotland since October 2014

Notification of Results

TClarke will announce its preliminary results for the year ended 31 December 2014 on Tuesday 24 March 2015. 

Ends

22 January 2015

For further information contact: