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08/08/2017
T Clarke Reports Revenue Rise In Half-Year Results
T Clarke has reported a 17% rise in revenue in its interim results for the six months ended 30th June 2017.
The building services contractor saw it's order book rise from £320 million in 2016 to £392m in 2017, with year-on-year net cash improving from £1.3m to £2.4m.
In addition, its new 26,000 Sq Ft prefabrication facility at Stansted, Essex is now operational, while the Group also completed the acquisition of control systems specialist Eton Associates Limited.
In Scotland, T Clarke secured the contract to build the New Main Strand at the Tynecastle Stadium in Edinburgh, while its underlying operating margin for the region was 3.9% (2.3% in 2016). Key residential projects include:
• Cala Homes, Kilmardinny, Bearsden, Glasgow
• Keepmoat, a new client for TClarke at Lyon's Gate
• Avant Homes, Greenhall Village, Blantyre
• Robertson Homes, Fair Acres, Dunbar.
Other current projects include:
• Easter Bush Campus, at Heriot Watt University, Edinburgh
• Bargarran Primary School, Glasgow
• St Josephs College, Dumfries
• Mitsubishi Electric, Calorimeter test rooms, Livingston
• Arthurlie Family Community Centre, Paisley
Overall, more than 600 new homes have been delivered this year, with a further expectation of over 1,300 by year end.
Elsewhere, underlying operating margins improved in London and South East (4.4% from 1.9%) and the North (3.8% from 2.9%). However, due to issues with workloads and protracted final account settlement, margins in the Central and South West region and were slightly lower at 2.0% (2016: 2.2%).
The company said: "It is pleasing to note that in spite of the uncertain economic and political climate, we have continued to grow our order book with good quality work and improving margins across most of our regions and a significant uplift in our core London and South East operations.
"Actions to address areas of the business with lower revenues than expected are in hand, coupled with targeted expansion in areas of the country where we are underrepresented. Our market reputation for operational excellence and successful delivery of the most complex assignments underpins our optimism for the future.
"In conclusion, The Board remains cautiously optimistic about the Group's future prospects and we look forward to updating shareholders on the progress that we make during the second half of the financial year."
(LM/MH)
The building services contractor saw it's order book rise from £320 million in 2016 to £392m in 2017, with year-on-year net cash improving from £1.3m to £2.4m.
In addition, its new 26,000 Sq Ft prefabrication facility at Stansted, Essex is now operational, while the Group also completed the acquisition of control systems specialist Eton Associates Limited.
In Scotland, T Clarke secured the contract to build the New Main Strand at the Tynecastle Stadium in Edinburgh, while its underlying operating margin for the region was 3.9% (2.3% in 2016). Key residential projects include:
• Cala Homes, Kilmardinny, Bearsden, Glasgow
• Keepmoat, a new client for TClarke at Lyon's Gate
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• Avant Homes, Greenhall Village, Blantyre
• Robertson Homes, Fair Acres, Dunbar.
Other current projects include:
• Easter Bush Campus, at Heriot Watt University, Edinburgh
• Bargarran Primary School, Glasgow
• St Josephs College, Dumfries
• Mitsubishi Electric, Calorimeter test rooms, Livingston
• Arthurlie Family Community Centre, Paisley
Overall, more than 600 new homes have been delivered this year, with a further expectation of over 1,300 by year end.
Elsewhere, underlying operating margins improved in London and South East (4.4% from 1.9%) and the North (3.8% from 2.9%). However, due to issues with workloads and protracted final account settlement, margins in the Central and South West region and were slightly lower at 2.0% (2016: 2.2%).
The company said: "It is pleasing to note that in spite of the uncertain economic and political climate, we have continued to grow our order book with good quality work and improving margins across most of our regions and a significant uplift in our core London and South East operations.
"Actions to address areas of the business with lower revenues than expected are in hand, coupled with targeted expansion in areas of the country where we are underrepresented. Our market reputation for operational excellence and successful delivery of the most complex assignments underpins our optimism for the future.
"In conclusion, The Board remains cautiously optimistic about the Group's future prospects and we look forward to updating shareholders on the progress that we make during the second half of the financial year."
(LM/MH)
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