Group says 2008 results will exceed market expectations, with balance sheet strong
T Clarke has reported that its 2008 results will surpass market expectations, thanks in main to strong regional trading.
One recent consensus forecast figure for the UK group is for pre-tax profit of £10.5m on turnover of £218m.
The group also pointed to a strong balance sheet and net cash of £26m.
In a trading update for the period 1 July to 18 November, Clarke announced: “Our broad sector of activities and geographical spread have helped to balance the recent downturn in commercial property and residential developments in the short term.”
Schemes such as the recently completed Westfield London Shopping Centre, and working alongside Sir Robert McAlpine as preferred bidder for the Olympic stadium, will also boost trading.
Looking towards the future, Clarke said: “Given the current economic climate, our strategy is to de-risk our future business and to implement sensible and realistic cost base reductions.”
T Clarke's 2009 order book stands at £180m.
Electrical and Mechanical Contractor