Clarke(T.) PLC AGM Statement (4765O)
18 May 2018 - 4:00PM
UK Regulatory
TIDMCTO
RNS Number : 4765O
Clarke(T.) PLC
18 May 2018
TClarke plc
AGM AND TRADING UPDATE
Ahead of the Annual General Meeting, being held today at 10.00am
at 200 Aldersgate, St Paul's, London EC1A 4HD, TClarke plc
("TClarke" or the "Group"), the Building Services Group, issues a
Trading Update covering the period from 1(st) January 2018 to
date.
We are pleased to report that we continue to expect revenues and
profits for 2018 to be in line with current market expectations. To
put those in context for the year ending 31 December 2018, these
are forecast to be revenues of GBP300 million, underlying profit
before tax of GBP7.0 million and underlying EPS of 13.2p. We also
expect to maintain our trend of underlying positive movement in net
cash year-on-year.
Our forward order book has been replenished and as at 30(th)
April 2018 stood at GBP368 million, increasing from GBP337 million
as at 31(st) December 2017. Encouragingly, we are seeing no lack of
opportunities, but we maintain a strict policy only to bid for
projects that meet our internal risk analysis and where we are
comfortable with the covenant and market reputation of the
contractual counterparty.
Overall, the planned Group revenues for 2018 have now been
secured with some capacity in the North West and Newcastle
businesses to address. Future secured revenues are GBP145 million
for financial year 2019 and GBP40 million for years 2020 and
beyond.
Since our last announcement on the 27th March 2018, we are
pleased to announce that recently secured projects include:
-- Electrical Infrastructure Resilience works for BAE Systems
-- Rolls Royce, Trent Hall, VRV replacement, Derby
-- Cancer Research Fit Out Building S9, The International Quarter, Stratford
-- Battersea Power Station Phase 2, Electrical Infrastructure
-- St Johns College, Durham
-- Royal National Orthopaedic Hospital, Stanmore - 4th Floor Fit out
-- Virtus Data Centre, Slough
-- Ashurst, Project Loop, London
-- Donaldson's, The Crescent, Edinburgh
-- Gorse Academies Trust, FM contract renewal serving ten academies in the Leeds area
-- Additional FM works for CBRE and Servest across the UK
-- Princess Alexandra Maternity Wing, Royal Cornwall Hospital Services Upgrade
Once again, TClarke has made an excellent start to the year and
the Board looks to the future with continued confidence.
The next update is scheduled for 7(th) August 2018 with the
release of the Group's Half Year results.
-ends-
18(th) May 2018
For further information contact:
TClarke plc
Mark Lawrence - Group Chief Executive
Trevor Mitchell - Finance Director
David Lanchester - Company Secretary
Tel: 020 7997 7400
www.tclarke.co.uk
N+1 Singer (Financial Adviser and Broker)
Sandy Fraser
Rachel Hayes
Tel: 020 7496 3000
www.nplus1singer.com
RMS Partners
Simon Courtenay
Tel: 020 3735 6551
This information is provided by RNS
The company news service from the London Stock Exchange
END
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