18th May 2018 10:27
LONDON (Alliance News) - Building services contractor TClarke PLC on Friday at its annual general meeting reiterated it expects to meet expectations for 2018.
The company also announced the departure, effective immediately, of Senior Independent Non-Executive Director Tony Giddings, who has left to concentrate on other business interests.
Current Non-Executive Director Mike Robson has been appointed as Giddings' replacement as senior independent director.
TClarke is continues to expect underlying pretax profit of GBP7.0 million on revenue of around GBP300.0 million for 2018. In late March, it reported adjusted pretax profit of GBP6.5 million for 2017 on revenue of GBP311.2 million, with the figures rising 5% and 12%, respectively.
Its April-end order book stood at GBP368.0 million from GBP337.0 million at the end of 2017, and it says it is seeing "no lack" of opportunities.
TClarke said planned revenue for 2018 has been secured with "some" capacity in the North West and Newcastle businesses to address. For 2019, it has secured GBP145.0 million of revenue and for 2020 and beyond GBP40.0 million.
Some of its new projects secured since its results announcement in March are electrical infrastructure in phase two of the redevelopment of Battersea power station and work at the Royal National Orthopaedic Hospital and the Royal Cornwall Hospital.
TClarke will release results for the first half of 2018 on August 7.
Shares were 3.3% higher Friday at a price of 83.55 pence each.
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