By Josh White
Date: Thursday 28 Nov 2019
LONDON (ShareCast) - (Sharecast News) - Building services group TClarke updated the market on its trading for the period from 1 July to date on Thursday, reporting that at the half year, it reported a 25% increase in underlying operating profit, with trading continuing "strongly" in the second half thus far.
The London-listed firm said that as a result, it expected the results for the full year ending 31 December would be in-line with market expectations.
It said it expected to report an underlying operating profit before interest and taxes of about £10m, up from £8.8m year-on-year, which would be in line with its stated strategy to achieve its key financial target of an underlying operating margin of 3%.
"We have made good progress in replenishing our forward order book, which currently stands at £361m," the board said in its statement.
"Reassuringly, revenues of £232m for 2020 have already been secured, against an equivalent figure of £230m at this time last year and up from £182m at the interims.
"In addition, our teams across the UK are actively negotiating a number of major schemes which provide further visibility for both 2020 and 2021."
Looking ahead, TClarke said its "long-standing, high quality" reputation and the strength of the relationships it had with blue-chip clients was a "key asset".
"Furthermore, our strong balance sheet continues to be a significant differentiator and enables us to win and deliver projects of a scale which positions us well for further growth.
"We continue to adhere to a strict bidding policy supporting our sustainable operating margin at 3% going forward."
The company's board said it was approaching the new financial year in a strong position, both operationally and financially, which gave it confidence for the group's prospects for 2020 and beyond.
At 1104 GMT, shares in TClarke were up 4.67% at 118.8p.
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Currency | UK Pounds |
Share Price | 161.25p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 161.25 |
52 Week Low | 118.50 |
Volume | 0 |
Shares Issued | 52.85m |
Market Cap | £85.22m |
RiskGrade | 148 |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Final | Interim | |
Ex-Div | 16-May-24 | 31-Aug-23 |
Paid | 07-Jun-24 | 29-Sep-23 |
Amount | 4.53p | 1.38p |
CEO | Mark Lawrence |
Finance Director | Trevor Mitchell |
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