AGM Statement

2 May 2008 07:00

Clarke(T.) PLC02 May 2008 AGM and Interim Management Statement T. CLARKE POSITIVE ON TRADING Ahead of today's Annual General Meeting to be held at Savoy Place, 2 Savoy Place, London WC2R OBL at 12:00 noon, T.Clarke Plc ("The Group") announces its firstInterim Management Statement as required by the UK Listing Authority'sdisclosure and transparency rules. At the AGM, Russell Race, Non-Executive Chairman of T.Clarke will give thefollowing trading update for the period from 1st January 2008 to date: "T. Clarke Plc has made a positive start to the year and is trading in-line withcurrent market expectations." "Revenue from our London Operations is much in-line with this stage last yearbut is expected to gain pace throughout the course of the current financialyear. The turbulence within the financial market has had no effect on currenttrading. We are well placed to benefit from a number of major projects in Londonwhich are fully funded and expected to proceed to construction in the nearfuture. In fact, many new schemes are already under way." "The fit-out market which is not a key sector in our operations, being highlycompetitive, low skill based and low margin, is expected to bear the brunt ofthe credit crunch as occupiers delay taking space. A further positive aspect ofour business is that we expect to be invited shortly to bid for severalcontracts for the Olympic programme and associated infrastructure works. Weshall exercise caution and be selective as to which projects we wish to beconsidered for." "Our regional businesses continue to be very active across all disciplines;retail, education, housing and transportation and we anticipate profitableorganic growth in all our regions. Our businesses in Scotland, Newcastle andDerby have substantial order books with excellent visibility. Furthermore,Aylward, our business in the Eastern Counties has made significant progress intothe Decent Homes and Affordable Housing programmes in its region." "We are focused on improving performance and margins throughout the Group, alongwith positive cash generation. We are not considering any acquisitions at thiscurrent stage, but we continue to keep a very close eye on the market." "The Group's order book currently stands at around £200m. We expect to secureseveral high value projects between now and the date of our interim resultswhich should show our order book to be ahead of the same stage last year." "In conclusion, the financial position of the Group remains strong. We remain ontrack for 2008 and our focus is on building a strong pipeline of work going into2009-2010." -ends- Date: 2nd May 2008For further information contact: T. Clarke plc City ProfilePat Stanborough, Chief Executive Simon CourtenayVictoria French, Finance Director William AttwellTel: 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