11th May 2022 12:40
(Alliance News) - Building services contractor TClarke PLC on Wednesday said trading is strong and it is "very well placed" to deliver year two of its three-year plan to achieve annual revenue of GBP500 million.
After a strong start to 2022 so far, the company said full-year revenue and profit will be in line with market forecasts.
It cited a full-year market revenue forecast of GBP410 million, with operating profit seen around GBP12 million.
For 2021, the company reported revenue of GBP327.1 million and an operating profit of GBP8.8 million - meaning it is on track to report 25% revenue growth for 2022 with a 36% increase in operating profit.
TClarke said its forward order book stood at "a record high" of GBP585 million at the end of April, up from GBP472 million a year before.
The company said order book growth is being fuelled by the "extremely buoyant" data centre market, which is serviced by its technologies arm.
TClarke remains "very positive" on its outlook and expects the significant growth in the data centre market to continue in the medium term. Data centres are expected to account for one third of TClarke's revenue by year-end.
Shares in TClarke were trading 2.5% higher in London on Wednesday midday at 148.92 pence.
By Sophie Rose; [email protected]
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