REG - Clarke(T.) PLC - AGM and Trading Update <Origin Href="QuoteRef">CTO.L</Origin>

TclarkeAnnouncement

15/07/2015 16:39

RNS Number : 5573M
Clarke(T.) PLC
08 May 2015
TCLARKE PLC
AGM AND TRADING UPDATE
Ahead of the Annual General Meeting, being held todayat 10.00am at200 Aldersgate, St Paul's, London EC1A 4HD,TClarke plc("TClarke" or the "Group") the building services group, issues a Trading Update covering the period from 1 January 2015 to date.
Trading
Trading for the year to date is in line with the Board's expectations. The first quarter is typically our slowest quarter and we maintain that it will be the latter part of the year before we begin to see meaningful margin improvement in our most competitive markets.
Order Book and Revenues
Our revenues to the 30thApril 2015 were 72 million (30thApril 2014 70 million). In March we reported a record forward order book and we are pleased to report that this order book has been replenished and maintained at 300 million against 265 million as at the same time last year.
Overall the Group has secured 84% of its target revenues for 2015 which gives the Board confidence in the outlook for the year. There is a particular focus at TClarke Bristol / Cardiff and TClarke East where current secured revenues are lower than in comparison to the same period last year.
The recovery in our markets is clearly being driven from London and a number of the previously announced London schemes will begin to generate revenues from the third quarter. We have also recently agreed our revised contract sum for the 900,000 sq ft. office development which is now proceeding at 100 Bishopsgate and are now mobilising our design teams with our onsite activities scheduled to start in April 2016. We are currently bidding in limited competition for further London schemes worth in the region of 100 million.
The Group is benefitting from having maintained its core resource of engineers and skilled operatives during the downturn with many clients now expressing concerns regarding the availability of resources in the medium term. Supporting this strategy of home grown talent we intend to recruit 75 apprentices across the UK this summer.
The next update is scheduled for 4th August 2015 with the release of the Group's interim results.
-ends-
Date: 8thMay 2014
For further information contact:
TClarke plc
Mark Lawrence
Group Chief Executive
Martin Walton
Finance Director
Tel: 020 7997 7400
www.tclarke.co.uk
N+1 Singer (Financial Adviser and Broker)
Sandy Fraser
Tel: 020 7496 3000
www.nplus1singer.com
Broker Profile
Simon Courtenay
Tel: 020 7448 3244
www.broker-profile.com

This information is provided by RNS
The company news service from the London Stock Exchange
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