19th Mar 2020 11:22
(Alliance News) - TClarke PLC on Thursday declared a higher dividend as it reported a rise in earnings in 2019.
The stock was trading 2.0% higher at 76.00 pence each on Thursday morning in London.
For 2019, the building services firm posted pretax profit of GBP9.0 million on revenue of GBP334.6 million. In 2018 pretax profit was GBP7.8 million on revenue of GBP326.8 million.
Revenue from London operations rose by 2% to GBP201 million, while the UK North saw revenue increase by 15% to GBP67.3 million. Revenue from the UK South division fall by 9% however to GBP66.3 million.
Underlying operating margin went up to 3.0% from 2.7%.
The company proposed a final dividend of 3.65 pence per share, up 9.3% from 3.34p in 2018. That increased the full-year payout by 10% to 4.4p from 4.0p.
As at the end of the period, TClarke had cash of GBP12.4 million, unchanged from the year before in addition to a revolving credit facility of GBP15.0 million and a GBP10.0 million overdraft facility.
Looking forward, the company said it has an order book of GBP403 million, down 1.9% from GBP411 million in 2018.
"The group is in great shape. The results for the year were very encouraging and we have an excellent platform from which we will continue to make progress," Chair Iain McCusker said, adding: "TClarke is in a robust financial position, and we remain optimistic about the long-term future positioning in our marketplace and we are well placed to face the challenges ahead."
By Ife Taiwo; [email protected]
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