AGM Statement

6 May 2005 07:05

Clarke(T.) PLC06 May 2005 T. Clarke PLC CHAIRMAN'S AGM STATEMENT Speaking at today's Annual General Meeting, Russell Race, Chairman of T. Clarkeplc, ("T. Clarke") the Electrical engineering and contracting company, will makethe following statement. " So far the year is progressing well. The acquisition of Waldon ElectricalContractors Limited, announced today, completes the first phase of our strategicplan to increase the Group's regional coverage and focus on 'niche' markets. Weare confident that Waldon will fit well into the Group. " Looking forward, we intend to concentrate on improving cash generation as amain priority to support the development and growth of the regional businessesthat we have acquired. We are confident that we will achieve our targets duringthe coming year. " I am pleased to report that there are positive signs in all of our markets. Inparticular there has been a well publicised sharp upturn in the Londoncommercial property market. Despite our strong spread of regional businesses,this remains a key market for us. With the completion of the Bishops Square,Spitalfields only weeks away, we can announce that we have been successful insecuring the fit-out for Allen & Overy which is taking 500,000 sq ft of space.This has an order value of £11 million. " The Group is currently the preferred bidder for the White City shoppingdevelopment, some 2,000,000 sq ft. This major project is due for completion atthe end of 2007, with an order value of £20 million. The Group is also biddingor in discussions on a number of large developments in a wide range of locationsin the City, Central and West End of London which will span 2006 and 2007. " In conclusion, the Group has made a pleasing start to the year and at thisstage we are on course to meet market expectations for 2005. We are lookingforward with confidence to the opportunities and challenges that are ahead of usin 2006 and into 2007. I would also like to take this opportunity to thank allof our staff for their continued dedication and hard work and our shareholdersfor their continuing support for the Group." -ends- Date: 6 May 2005For further information contact: T. Clarke plc City Profile GroupPat Stanborough, Chief Executive Oliver WintersJohn Daly, Finance Director Tel: 020-7448-3244Tel: 020-7358-5000Web: www.tclarke.co.uk This information is provided by RNS The company news service from the London Stock Exchange