T Clarke says it has high hopes for the future as it finishes off legacy projects
Building services group T Clarke is gearing up to start work on several major London schemes, such as Great Portland Estate’s Rathbone Square, and expects further opportunities in the capital.
The firm posted pre-tax profit of £900,000 for the first half of 2015, up from £200,000 the previous year, adding that it expected to finish off the remainder of its challenging legacy contracts by the end of the year. Revenue for the firm was also slightly up to £112m, up from £109.8m.
The only blip in otherwise solid results was in the firm’s Cardiff business where a “challenging” student accommodation project impacted on revenue.
Mark Lawrence, chief executive said T Clarke’s order book stands at £320m, which he expects will provide “a platform to grow the business and improve the profitability of the group”.
The group reported that it has secured 92% of its target revenues for 2015 and £155 million for delivery in 2016.
The firm also announced that chairman David Henderson is to step down on 30 September 2015. He will be replaced by Iain McCusker, currently the firms’ senior independent director.