Engineering and contracting group revises forecasts upward after review of contracts

Electrical engineering and contracting group T Clarke has that profit in 2008 will be significantly higher than expected after a review of its contracts

In a trading update last week, it said pre-tax profit in the year to 31 December 2008 would be above forecasts despite goodwill impairment provisions.

One consensus forecast is for pre-tax profit of £11m on turnover of £215m.

A statement said: “The board remains confident in the resilience of the business going forward, despite these challenging times.”

The company, which will report its full-year results on 19 March, confirmed last month that contracts had been exchanged with Brookfield for the 65-floor Pinnacle building in the City of London.