28th Nov 2019 11:05
(Alliance News) - TClarke PLC said Thursday said trading has continued strongly in the second half of 2019, and it now expects full-year results to be in-line with market expectations.
In the trading update from July 1 to date, the building services company said it expects underlying operating profit before interest and taxation of approximately GBP10.0 million in 2019, an increase of 14% from GBP8.8 million in 2018.
The company said the increase is in-line with its strategy to achieve it key financial target of an underlying operating margin of 3%.
TClarke said it made "good progress" in replenishing its forward order book, which currently stands at GBP361.0 million.
"Reassuringly, revenues of GBP232.0 million for 2020 have already been secured, against an equivalent figure of GBP230.0 million at this time last year and up from GBP182.0 million at the interims," the company said.
"Looking ahead, we approach the new financial year in a strong position, both operationally and financially which gives the board confidence for the group's prospects for 2020 and beyond," the company said.
TClarke shares were up 4.7% in London at 118.80 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
CTO.L