31st Jan 2019 10:27
LONDON (Alliance News) - Building services firm T Clarke PLC on Thursday said it now has a record order book, is debt free, and set for both revenue and profit growth in 2018.
T Clarke is guiding for revenue of around GBP320 million in 2018, compared to GBP311 million the year prior.
The firm's underlying operating profit before interest and tax is guided at GBP8.6 million, from GBP7.3 million year-on-year, while its underlying operating profit margin is set to improve to 2.7% from 2.3%.
T Clarke is on track to meet its medium-term margin target of 3%.
Cash is robust, the company continued, while it has not drawn down any of its facilities meaning it is debt free, as of the end of January.
T Clarke's order book at the end of 2018 was "a record" GBP411 million, 22% higher year-on-year, with Technologies increasing its order book fivefold year-on-year.
"As T Clarke celebrates its 130th year, it is pleasing this update demonstrates the successful implementation of our strategy both in terms of improving our profit margin and targeting areas of technology and digital integration in modern building projects that play to our core skills and capabilities," said Chief Executive Mark Lawrence.
"We are working on three UK data centres and our Building Controls division acquired in August 2017, can now boast its largest ever order book and the continued success in our other markets has led to the record forward order book for the TClarke group as a whole."
"The board continues to look forward with optimism and we remain focussed on delivering an improving financial performance as we move through the year," he added.
T Clarke will report results for 2018 on March 26. Shares were up 4.4% on Thursday at 101.272 pence each.
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