Building services group T Clarke has announced its Finance Director, Martin Walton, is to step down from his position.

In a trading update, the company revealed Mr Walton will be succeeded by Trevor Mitchell, who will take up the post on an interim term of one year from today, 01 February.

Mr Mitchell is a Chartered Accountant with extensive experience across many sectors including financial services, construction and maintenance, education and retail, working within organisations such as Balfour Beatty, Kier, Rok, Clerical Medical Group and Halifax.

He has worked within the Financial Team at TClarke since October 2016, assisting with simplifying the structure and improving the Group's financial controls and procedures.


T Clarke said: "The Board would like to thank Martin for his substantial contribution to the Group since he joined the business in 2007 and wish him well for the future."

In addition, the Group reported its expected outcome for the year is "in line with current market expectations, which are an underlying profit before taxation of circa £6.5m and revenues in the region of £310m".

"After an aggregate £3m investment in the ETON acquisition and at our manufacturing facility at Stansted, the Group's cash generation remains robust with the year end net cash position improving by 27% to £11.7m, the strongest closing balance recorded since 2009 (31st December 2016: £9.2m)," the Board said.

"Our forward order book as at 31st December 2017 has strengthened to £337m compared to £330m at 31st December 2016. This has eased back from the record high reported during the course of 2017, a reflection of our selective approach to tendering rather than lack of opportunities."

Mark Lawrence, Chief Executive Officer, said: "We are acutely aware of the risks associated with our industry and the damage which can be caused by bidding at unrealistic levels.

"The Group continues to be financially disciplined and remains well positioned and focused on future opportunities."

(LM/MH)