TClarke closes in on £500m revenue target

For the six months to 30th June 2022, TClarke generated revenue of £206.2m (2021 H1: £138.2m) and made a pre-tax profit of £5.5m (2021 H1: £1.9m). Operating margin improved from 1.7% last year to 2.9% this time.

Revenue growth has been experienced by all regions, directors said, but has been particularly strong in London where revenues at £125.1m are 72% higher than in 2021. This growth is expected to continue throughout the rest of 2022 with revenues for the full year now expected to be around £450m.

With a new record order book worth £586m, up £83m on a year ago, and a £1bn pipeline of current bids, there is confidence in hitting the target of turning over £500m next year.

The order book is split as follows:

Market sector30 June 202230 June 2021Increase
Residential & Hotels96113-15%
Engineering Services151153-1%
Facilities Management141217%

Chief executive Mark Lawrence said: “With the current economic conditions, the business is rightly cautious, however the strategy we follow is of a disciplined tendering approach with early engagement with our supply chain partners and our clients which is ensuring we are not exposed to unnecessary risks.

“The record half year revenues and forward order book along with the current visibility of future workloads in our target revenue streams mean TClarke now expects to deliver £450m revenue in 2022 and achieve its £500m target in 2023.”

Got a story? Email

Source link