26th Jan 2023 14:02
(Alliance News) - TClarke PLC on Thursday said it has delivered on market expectations for the past year, on the basis of strong trading in the second half.
For 2022, the London-based building services group anticipates turnover of GBP425 million, and earnings before interest and tax of GBP11.5 million.
Pretax profit is expected to be GBP10.3 million, up 32% from GBP7.8 million a year prior, while revenue will increase by 30% from GBP327.1 million in 2021, which would put it at GBP425.2 million.
Earnings per share are similarly expected to rise by 30%.
At December 31, the company had cash of GBP22.5 million, up from GBP20.3 million last year. GBP15 million was drawn down on the group's revolving credit facility, unchanged from 2021.
TClarke saw net asset growth of 40% during 2022, now amounting to GBP38 million.
Looking ahead, the company said it was focused on delivering its growth strategy. It expects to achieve its target turnover of GBP500 million in 2023, based on the size of its existing order book and number of opportunities ahead.
Plans are also underway to expand its data centre business, and to undertake more large projects outside of London.
"TClarke has had a tremendous year delivering a record level of turnover for the period and ending the year with an order book at a level that supports our GBP500 million turnover target. We are on track to achieve our growth ambitions and I am extremely excited and confident for the outlook for TClarke," said Chief Executive Officer Mark Lawrence.
TClarke shares were trading 6.9% higher at 139.72 pence each in London on Thursday afternoon.
By Holly Beveridge; Alliance News reporter
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