M&E contractor posts pretax profits of more than 拢8 million on turnover of 拢193.8 million

Pretax profits at T Clarke have risen to 拢8.2m on a turnover of 拢193.8m for the year ended 31 December 2007. The group has turned around underperforming businesses and is encouraged by its current order book.

Profits before tax rose 24.2% on 2006, while group turnover rose by 4%.

Pat Stanborough, chief executive, said: 鈥淭he group is in good shape. We have a broad spread of businesses across the UK that are trading well. Despite the wider turbulence in the financial markets, we remain encouraged about the strength of the order book and the opportunities for future work.鈥�

London operations reported a reduced turnover of 拢77.2m (2006: 拢80.4m), with profits rising to 拢5.15m (2006: 拢3.7m). The regional arms saw turnover up to 拢116.6m (2006: 拢105.9m) and profits steady at 拢2.5m.

鈥淎lthough operating at 80% of capacity, due in the main to the slippage on the White City Shopping Centre development, our London operations contributed a very strong performance as a result of successful completions and a better quality order book,鈥� said Stanborough.

鈥淚n the regions, most companies performed well. The problems in two regions 鈥� Preston and King鈥檚 Lynn 鈥� have since been addressed.鈥�

The group announced an increased final dividend up 10.2% to 8.10p. The total dividend for the year was up 8.8% to 12p.

Source

Electrical and Mechanical Contractor