TClarke steady and secure and proceeding with further expanded growth targets

TClarke’s 2023 results show the group delivering on its growth strategy and setting a fresh target for growth.

Chairman Iain McCusker set out the continued strong performance of the company.

“2023 has been another year of significant achievement for TClarke. In a very challenging marketplace revenue increased by 15% to £491m (2022: £426m). The composition of this revenue number and order book reflects the successful implementation and delivery of our strategy in our chosen markets.

“Our strategy is to pursue organic growth by focusing on our five core market sectors, whilst building our market presence in data centres, large projects outside of London, smart buildings and healthcare. Whilst revenues from these areas reduced to £189m in 2023 (2022: £220m) they form a substantial part of our Forward Order Book with data centres alone accounting for £346m.

“Our forward order book now stands at £943m, an increase of 70% (2022: £555m) which again demonstrates the successful implementation and delivery of our strategic development plans.”

Chief Executive Mark Lawrence highlighted the effectiveness of the group’s strategy and business model.

“An effective model and a fresh target for growth

“In March 2021, we began a journey to double our revenues. As we approach and pass this goal, the Company will continue to deliver organic growth, delivered with our consistent commitment to strong engineering with good values – and achieved without the costs or risks of acquisition.

“We are able to increase our growth target significantly only because we can rely on the steadfast support we receive from our partners, customers, shareholders, and most importantly, our dedicated TClarke team, even amidst ongoing market challenges. I extend my heartfelt thanks to each of you for your invaluable contribution to our ongoing achievements.

“This business model outputs sustainable growth

“The challenges of inflation and supply that persisted throughout the year appear likely to persist further due to conflicts around the world. These factors continue to affect our markets, yet our robust business model and risk management practices enable us to mitigate risks, minimise disruptions, and capitalise on opportunities to keep on track with growth.

“Once again in 2023, this business has succeeded in winning high-quality work, delivering it to our clients’ satisfaction, and building our resource of people, skills, and capabilities to enable further headroom for growth.

“Organic growth of this kind is sustainable. It allows us to broaden our client base, diversifying our risks and increasing both the scope and scale of opportunities available to us. This growth increases our resilience, while also increasing the value delivered to our stakeholders.”

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