Order book hits new high as trading continues to strengthen
5/5/21: Ahead of the Annual General Meeting, being held today at 10.00am at 45 Moorfields, London EC2Y 9AE, TClarke plc, the Building Services Group, issues a Trading Update covering the period from 1st January 2021 to date.
The Group is pleased to report that trading in the first four months of the 2021 financial year has continued to be positive and is in line with expectations. The Board is particularly encouraged by the growth of the forward order book and importantly the number of significant opportunities that TClarke is well placed to secure across all of our market sectors, as we move forward with our strategy to grow revenues to £500m, whilst maintaining our underlying margins.
The forward order book reflects growth coming through and now stands at a new record level of £472m (2020: £382m). The growth in the order book has been driven by successful project wins in technologies (data centres) and infrastructure (healthcare), where we have been further developing our capabilities.
The business is well positioned to take advantage of further opportunities and we are confident that this positive momentum will continue across all of our markets and geographies and the Group has aligned its resources to match the anticipated growth in revenues.
In summary, TClarke has made an excellent start to the year and the Board looks to the future with continued confidence underpinned by excellent revenue visibility and we look forward to reporting on the progress that we make over the remainder of the year.
Appointment of Non- Executive Director
With respect to the Board, we are pleased to announce today that Jonathan Hook will be joining the Board as an Independent Non-Executive Director of the Company from 1st July 2021. Jonathan is currently global leader of the Engineering & Construction practice at PwC. He retires from PwC on 30th June 2021.
Notice of Half-Year results
The next update is scheduled for 20th July 2021 with the release of the Group’s Half Year results for the six months ending 30th June 2021.
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5th May 2021
For further information contact:
TClarke plc
Mark Lawrence – Group Chief Executive
Trevor Mitchell – Group Finance Director
Tel: 020 7997 7400
www.tclarke.co.uk
Cenkos Securities plc (Corporate Broker)
Max Hartley (Corporate Finance)
Alex Pollen (Sales)
Tel: 020 7397 8900
www.cenkos.com
RMS Partners
Simon Courtenay
Tel: 020 3735 6551