17th Jan 2014 08:34
LONDON (Alliance News) - Building services group T Clarke PLC Friday said that despite challenging market conditions its forward order book remained "solid", with work totalling GBP250 million at the end of December compared with GBP230 million a year earlier.
In a trading statement ahead of its full-year results, the firm said it has been trading in line with expectations since publishing an interim management statement in November.
The firm said its assessment of its 2013 results, however, does not include one major contract that is nearing completion and where the "final settlement remains outstanding".
"We have currently recognised no profit or loss on the project and final account negotiations with the principal contractor are ongoing," the company said.
T Clarke said despite this pressure, its net cash position remained positive with just over GBP1 million held at the end year end.
Looking ahead, the firm said there is more optimism in the UK construction market and "we are winning assignments on some of the most exciting and prestigious construction projects across the country which is encouraging for 2014 and beyond."
T Clarke will announce its results for the year ended December 31, 2013, on March 18.
T Clarke were down 6.4% at 69.00 pence early Friday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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