M&E firm makes confident prediction about revenue in London over coming financial year
Sales at M&E specialist T. Clarke are meeting targets despite the effect of the credit crunch, the firm said today in a trading update.
Russell Race, non-executive chairman of T. Clarke, today offered an upbeat assessment of prospects for the sector, saying revenue in London was “expected to gain pace throughout the course of the financial year.”
He added: “The turbulence within the financial market has had no effect on current trading. We are well placed to benefit from a number of major projects in London which are fully funded and expected to proceed to construction in the near future.”
However, he did say the fit out market would likely bear the brunt of the credit crunch as “occupiers delay taking space.”
He said its order books and visibility of future sales were “excellent” in its regional businesses in Scotland, Newcastle and Derby, and that it expected to be invited to bud for a number of Olympics-related contracts. However, Race ruled out any acquisitions in the short term, although he said the firm would “continue to keep a close eye on the market.”