AGM Statement

5 May 2006 07:00

Clarke(T.) PLC05 May 2006 T. Clarke plc T CLARKE HERALDS IMPROVING ORDER BOOK Speaking at today's Annual General Meeting, Russell Race, Chairman of T. Clarkeplc, ("T. Clarke") the Electrical engineering and contracting Group, will makethe following statement. " The year has started well. There is a positive outlook in our core market, thecommercial property development sector. We are also pleased to report that theprospects in our other regional markets made up of projects in the retail,housing and education sectors remains upbeat. " The Board is confident that the Group will report an upturn in our order bookthrough the latter half of 2006. Our current pipeline of work is strong. We areanticipating a sharp upturn in the number of high quality projects commencing in2007 and 2008 which will increase the demand for our specialist electricalservices in the 'build up' to 2012. " During the first quarter, we are delighted to have secured work on some of themost prestigious projects in London. These include work on the 201 Bishopsgateand Broadgate tower schemes in the City, the 02 Dome, the Shell Centre and amajor redevelopment scheme at Greenwich Waterfront. Our current order bookstands at £200m. " We are nearing the end of a cycle of flat growth and pressure on margins. Ourbusiness is made up of a broad mix of long and short term contracts and istherefore slower to respond to the well publicised sharp upturns and downturnsin the construction industry. " We have had a good first quarter in order intake and we are experiencing aslow improvement in margin recovery. We have the capacity in terms of resourcesand management to meet the increasing demand for our services, which is likelyto benefit long-term margin improvement. " We are alert to the sharp escalation in commodity prices, in particular steeland copper and of the perceived shortage of skilled labour. We are confidentthat the steps we have already taken will mitigate this risk. " In conclusion the outlook, despite the challenging nature of our core marketsis good, and the Group is on course to meet current market expectations." -ends- Date: 5th May 2006For further information contact: T. Clarke plc cityPROFILEPat Stanborough, Chief Executive Simon CourtenayJohn Daly, Finance Director Andrew HarrisTel: 020-7358-5000 Tel: 020-7448-3244Web: www.tclarke.co.uk This information is provided by RNS The company news service from the London Stock Exchange