Last checked at 18 Jul 2008 07:00
T. CLARKE PLC TRADING STATEMENT
T.CLARKE UPBEAT ON TRADING AND EXPECTS TO MAKE FURTHER PROGRESS IN THE SECOND HALF
The Board of T.Clarke plc ("T.Clarke' or 'the Group'), the electrical engineering and contracting group, today announces an update on trading for the six months to 30 June 2008.
The Group is pleased to report that, further to its interim management statement released on 2 May 2008, trading has continued to be in line with market expectations. This is a reflection of the success of the Group's strategy of diversifying its activities by both sector and geography, with the Group's broad client base and diverse market coverage mitigating the cyclical nature of individual markets. Cash generation is very strong and the Group is well positioned to meet future dividend and capital requirements.
The Group has made good progress in the first half and the Board remains confident of trading in the second half. The Group has continued to secure projects and the current order book amounts to £235m of which £100m is scheduled for completion in the current year. Looking forward, negotiations are at an advanced stage on a number of further significant contracts, for which T.Clarke is preferred bidder, which are expected to be 'built-out' through the period 2009 to 2011. A further update is expected to be given when the Group announces its interim results on Friday 29 August 2008.
The Group has won a wide range of projects across the country in both the private and public sector. These include Waitrose, White City, London; Greenwich N0204 an office development near the O2 Arena; HMP Featherstone, Wolverhampton; Kirkintilloch Integrated Care Centre; RAF Mildenhall, New Generators; Harrogate Showground & Library; Medway Hospital CT Scanning Facility; National Museum, Chatham; Searles Holiday Park, Hunstanton; South Kesteven Decent Homes Programme; Hulme Grammar School; Council Offices, Bury St. Edmunds and Nottingham High School.
Pat Stanborough, Chief Executive, commented:
" In these uncertain times it is encouraging to note that enquiry levels remain high, we are preferred bidder for several major contracts, cashflow is positive and the Group is in good shape."
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Date: 18th July 2008 For further information contact: T. Clarke plc Pat Stanborough, Chief Executive Victoria French, Finance Director Tel: 020-7358-5000 web: www.tclarke.co.uk
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