Electrical specialist also signs partnership deal with US building systems firm

T Clarke said it hit its target of 3% operating margin last year and revealed it had taken a stake in building control systems group Gooee.

In a trading update, the contractor said it expected operating profit for the year to 31 December 2019 to be up 16% at £10.2m, with turnover rising 2% to £335m.

The operating margin was lifted 11% from 2.7% to 3%, a target set at the beginning of last year.

T Clarke also announced it had made a small investment in Gooee after signing a five-year UK-exclusive agreement with the group to sell, install and maintain the US-headquartered firm’s smart building products.

T Clarke declined to reveal the amount it had ploughed into its new partner.

But Mark Lawrence, T Clarke’s chief executive, said the tie-up would provide the group with revenues from the sale and installation of Gooee’s products, plus a share of future revenues from subscription services.

T Clarke announces its annual results for 2019 on 19 March 2020.