Electrical contractor T Clarke has said its trading for the six months ended 30 June 2008 has not been hit by the credit crunch.
In a statement to the City it said trading had been in line with expectations as a result of its policy of “diversification by sector and geography”.
Pat Stanborough, T Clarke’s chief executive, said: “It is encouraging to note that enquiry levels remain high, we are preferred bidder for several big contracts, cash flow is positive and the group is in good shape.”
Its order book stands at £235m and the City’s forecast for the year ended 31 December 2008 is a pre-tax profit of £10.5m on turnover of £213m.
Andy Brown, analyst at Panmure Gordon, said the update was “solid” but there were longer term concerns about the group’s exposure to the property market.