22nd Jan 2015 08:58
LONDON (Alliance News) - T Clarke PLC shares rose on Thursday morning after the company said it met its expectations for the year as it focused on closing out projects taken on during the downturn.
The building services company said its trading remained in line with expectations in the fourth quarter to the end of December, as it maintained a focus on closing out contracts secured during the recession.
The group said it ended a challenging year for the business with an improved cash position, up to GBP4 million from GBP1 million at the end of 2013. T Clarke acknowledged the improved position reflects its normal cash collection cycle to an extent, but said it also views the improvement as a sign of better trends in its underlying performance.
The company said its market conditions are continuing to improve, driven by the London market, and said its new business wins over the year underpin its outlook for 2015.
The group said its order book at year-end exceeded GBP300 million, up from GBP250 million at the end of 2013.
T Clarke shares were up 5.1% to 67.03 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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