Trading statement from electrical contractor says commercial sector should boost group's revenue from mid 2011
Electrical contractor T Clarke has said there are “early signs of recovery” in the commercial market that will bolster its top-line from the middle of next year.
In a trading update this morning, the £178m-turnover group said: “Market conditions continue to be challenging, despite early indicators that suggest some restoration of confidence in the construction of significant new build commercial properties. The majority of these schemes, if secured, would form part of the group's revenue from mid 2011 through 2012.”
It said its forward order book has jumped from £175m this time last year to £200m, which includes the recent £40m win for the upgrade of Victoria Underground Station in London.
The group’s cash position on 30 April was £11m, down from £21m in 2008 after it spent £8.1m buying D&S Engineering Facilities, an acquisition it said was trading in line with expectations.