TClarke - improvement of profit margin is on track

Just a quick note: I was very pleased to read in TClarke’s interim management statement today that the expected profit margin improvement discussed in earlier posts (5th -10th Nov.) is on track as customers become more willing to pay in a tightening market for skilled sub-contractors.

Here are the key sentences:

“We can see a significant improvement in the quality of our order book as we work through the majority of contracts awarded during the down-cycle. We are increasingly confident that this will be reflected in a material increase in our operating margin during 2016 and 2017. The improving quality of our order book is a function of our strategies of focusing on those business units and regions with the greatest potential to impact our future performance, especially London; aligning ourselves with high quality contractors; and bidding only on those contracts that offer appropriate returns.

The Group has continued to invest in its engineering and skilled resources to ensure the delivery of our target order book and our intention is to maintain a strict focus on projects where we are either in limited competition or there is a single point of negotiation and where we believe we can return margins that align with our strategy. Increasingly, clients are concerned about the limited availability of high quality resource in our sector. TClarke is regarded as a partner of choice in the sector and this should lead to further opportunities and provides substance to our confidence in future operating margin trends.”
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