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27/03/2018
T Clarke Reports Strong Set Of Financial Results
Building services group T Clarke has reported a "strong" set of results for the year ended 31 December 2017.
The Falkirk-based business revealed revenue has risen 12% to £311.2 million (2016; £278.6m), while profit before tax increased from £3.7m to £7.1m.
In addition, the Group's order book has risen by 2% to £337m from £330 million, with work secured on a number of key projects including the 43-storey residential and five star hotel ONE Bishopsgate Plaza in London, the restoration of the 1930's Rothesay Pavilion building in Bute and delivering work on the South Gilmerton residential scheme in Edinburgh.
Chief Executive Officer Mark Lawrence said 2017 was TClarke Scotland's most successful year to date.
"Our Engineering team delivered numerous projects, including the fabrication of bespoke alignment and fixing templates for 20km of electricity pylons for Morgan Sindall," he said.
"Our Intelligent Buildings Team was active on landmark installations, including 22 Bishopsgate and it also began collaboration with the Group's new Eton Associates team, at Canary Wharf Estates' One Bank Street development.
"Scotland's M&E team had a strong year, delivering projects for Mitsubishi and Heart of Midlothian FC. The M&E Team also had success with major projects in the education and renewable energy sectors."
Mr Lawrence continued: "Our Transport team's selection by Manchester Airport Group brings us a major airport contract, our Design and Build team continues its excellent performance and growth trajectory, our Mission Critical team's work on data centres and the complex Selfridges project has been highly valued and our TClarke Intelligent Buildings team has won major data, fire and alarm projects.
"Manufacturing has had its most successful year ever with the opening of our multi-skilled, purpose-designed operation at Stansted and Healthcare continues with its world class partnerships, winning projects under the NHS's new P22 framework agreements. Our Residential business again won a series of awards and expanded its footprint and our successful in-house specialist FM business has also won new partnerships.
"It is also important to note that we have been extremely successful in winning and delivering research and laboratory projects across every region of our business. Once again, this shows how our business can adapt as demand and opportunity shifts in the marketplace."
On the company's future outlook, Chairman Iain McCusker said the current and forward order book is fully replenished with high-quality projects.
"The strength of our order book is evidence of our significant market share and we are maintaining our discipline and focus to deliver sustained margin improvement across all our regions," he said.
"The Board is confident that the Group is well placed to meet profit expectations for the year ahead and our commitment to sustained performance growth is such that the Board has set a medium term target to increase the underlying operating margin to 3%."
(LM)
The Falkirk-based business revealed revenue has risen 12% to £311.2 million (2016; £278.6m), while profit before tax increased from £3.7m to £7.1m.
In addition, the Group's order book has risen by 2% to £337m from £330 million, with work secured on a number of key projects including the 43-storey residential and five star hotel ONE Bishopsgate Plaza in London, the restoration of the 1930's Rothesay Pavilion building in Bute and delivering work on the South Gilmerton residential scheme in Edinburgh.
Chief Executive Officer Mark Lawrence said 2017 was TClarke Scotland's most successful year to date.
"Our Engineering team delivered numerous projects, including the fabrication of bespoke alignment and fixing templates for 20km of electricity pylons for Morgan Sindall," he said.
"Our Intelligent Buildings Team was active on landmark installations, including 22 Bishopsgate and it also began collaboration with the Group's new Eton Associates team, at Canary Wharf Estates' One Bank Street development.
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"Scotland's M&E team had a strong year, delivering projects for Mitsubishi and Heart of Midlothian FC. The M&E Team also had success with major projects in the education and renewable energy sectors."
Mr Lawrence continued: "Our Transport team's selection by Manchester Airport Group brings us a major airport contract, our Design and Build team continues its excellent performance and growth trajectory, our Mission Critical team's work on data centres and the complex Selfridges project has been highly valued and our TClarke Intelligent Buildings team has won major data, fire and alarm projects.
"Manufacturing has had its most successful year ever with the opening of our multi-skilled, purpose-designed operation at Stansted and Healthcare continues with its world class partnerships, winning projects under the NHS's new P22 framework agreements. Our Residential business again won a series of awards and expanded its footprint and our successful in-house specialist FM business has also won new partnerships.
"It is also important to note that we have been extremely successful in winning and delivering research and laboratory projects across every region of our business. Once again, this shows how our business can adapt as demand and opportunity shifts in the marketplace."
On the company's future outlook, Chairman Iain McCusker said the current and forward order book is fully replenished with high-quality projects.
"The strength of our order book is evidence of our significant market share and we are maintaining our discipline and focus to deliver sustained margin improvement across all our regions," he said.
"The Board is confident that the Group is well placed to meet profit expectations for the year ahead and our commitment to sustained performance growth is such that the Board has set a medium term target to increase the underlying operating margin to 3%."
(LM)
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