Clarke(T.) PLC (CTO) - Interim Management Statement
RNS Number : 2385R
16 November 2012
Interim Management Statement
TClarke plc, ("TClarke" or the "Group") the Building Services Group, announces
its Interim Management Statement covering the period from 1st July 2012 to
15th November 2012.
The Group's operations remain on target to meet market expectations for the
year. Our forward order book, supported by projects that have been secured
recently, has grown to £230m (at 31^st October 2012). This is an increase of
23% compared to the same period last year, with 55% of target revenues for
2013 already secured. Cash balances at 31^st October 2012 were £1.2m
We continue to manage the business on the basis that market conditions will
remain tough. We maintain strict criteria when assessing projects that we
choose to bid for but characteristics such as a high numbers of bidders and
unrealistic pricing levels continue to blight the construction industry,
resulting in margin pressures and a lack of confidence in progressing new
schemes particularly across our core M&E contracting businesses.
Within our last statement in August we announced that we had been awarded a
significant number of projects across the UK, all of which have now commenced,
albeit a few have suffered some initial programme delays which we expect to
recover during the course of the contracts.
In addition we are a partner in Balfour Beatty's successful bid for a position
on the Welsh Government's 'Designed for Life: Building for Wales 3′ National
Framework. The four-year framework covers NHS building projects in Wales with
construction values of above £10m.
Across the UK we continue to focus on the diversity of our businesses which
has allowed us to progress our strategy to broaden the range of services that
we offer. Our Utilities and Technologies Division, now known as TClarke
Mission Critical,has been instrumental in securing contract awards for four
data centres this year.
TClarke Mission Critical provides our expertise in this field and delivers
ultimate resilience and reliability for data and power projects in its target
markets of the UK, Europe and Scandinavia.
We believe that there are a number of significant opportunities in this
A further update is scheduled for 11^th January 2013 and full year results are
planned to be announced on 19^th March 2013.
--------- ENDS ---------
Date 16^th November 2012
For further information contact:
Mark Lawrence Martin Walton
Group Chief Executive Finance Director
Tel: 020 7997 7400 Tel: 020 7997 7400
N+1 Singer (Financial Adviser and Broker)
Tel: 020 7496 3000
Simon Courtenay/ Abigail Genis
Tel: 020 7448 3244
This information is provided by RNS
The company news service from the London Stock Exchange
IMSBKPDBNBDDCDD -0- Nov/16/2012 07:00 GMT
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