22nd Mar 2016 09:08
LONDON (Alliance News) - Building services company T Clarke PLC on Tuesday said it swung to profit in 2015 as revenue increased significantly, helping to boost margins, and as one-off costs did not repeat.
T Clarke said its pretax profit for the year to the end of December was GBP3.5 million, compared to a GBP800,000 loss a year earlier, partly due to a claim settlement cost booked in 2014 not repeating.
Revenue increased to GBP242.4 million from GBP207.9 million, driven by a 37% rise in revenue from its London & South East operations. Those operations saw its margin swing to a positive 1.2% from a negative 1.5% in 2014, as unprofitable contracts secured during the economic downturn completed. Sales also grew in the Central & South West region, but fell in the North of England and Scotland.
T Clarke said its order book at the end of December was GBP300.0 million, up from GBP250.0 million a year earlier.
The company will pay a final dividend of 2.60 pence, flat year-on-year, leaving its total payout also flat at 3.10p.
"The company is focused on improving performance and margins throughout the group. We remain alert to any challenges that we may face, yet we approach the future with confidence and enthusiasm. The future for the group remains solid," said Chief Executive Mark Lawrence.
T Clarke shares were up 3.3% to 87.00p Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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