TClarke – a share for my modified cyclically-adjusted price earnings ratio portfolio

TClarke installs the electric wires/equipment, mechanical items and ICT stuff in buildings. It suffered during the long recession as the building of office blocks, public sector infrastructure (e.g. railway stations) and shop refurbishments was curtailed.

Its profits fell year by year.

Now that its 1,200 staff have demonstrated their ability to deliver the most sophisticated electrical and mechanical workings of modern buildings, and survived the recession in fine fettle, it is set for a revival in fortunes.

During 2014 client attitudes switched from a focus of trying to push down tender prices from sub-contractors to an emphasis on gaining the cooperation of the most reliable high-expertise contractors to help finish off their building projects. This presents a great opportunity for TClarke to improve margins.

Being in property development myself I know the importance of having people you can trust doing the electrics etc., even if that means paying more.
Reliability and capability are important in both booms and busts. The only difference is that the best are in greater demand in booms – if you want them then, first you need good relationships built on long-tested trust (both ways); second, you’ll have to pay more. TClarke will benefit from this swing in the pendulum…..

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