Tclarke Share Discussion Threads

[cheshire man] 30/1/2019 12:59

That should be a positive update igoe :-)

RNS Number : 5392I
Clarke(T.) PLC
27 November 2018

TClarke plc

TRADING UPDATE



TClarke plc ("TClarke" or the "Group"), the Building Services Group, today issues a trading update for the period from 1st July 2018 to date.



Results

We stated at the half year that the Group had experienced a strong first six months of 2018 and the results delivered were in line with expectations. We are now pleased to report that the Board expects results for the full year ending 31st December 2018 to be ahead of current market expectations.



We expect an underlying operating profit before interest and taxation of circa £8.6m (2017: £7.3m) and revenue of circa £320m (2017: £311m). The implied underlying operating profit margin of 2.7% provides further evidence that we are on track to achieve our target of 3%.



Order Book

Our established strategy is to selectively target projects that we believe will add value and strengthen the margin profile of the Group. The Board is encouraged by the continued opportunities available to the Group which meet our tendering criteria, suggesting that there remains a strong demand for our services and our approach, particularly on high profile projects from clients who value our ability to deliver large, complex projects successfully.



This is reflected in our forward order book which has grown by 6% year on year and now stands at a record £403m against £380m at the same time last year. Looking ahead, revenues of £230m for 2019 have already been secured, against an equivalent figure of £190m at this time last year.



Project wins totalling £150m have been secured since the announcement of the half year results, which include the following:



· Additional Works at Battersea Power Station Phase 2 with the award of the Office Shell and Core Package

· KGX1 Project, Kings Cross, Mechanical Shell and Core and Fit Out Packages

· Global Switch Data Centre, London

· Additional Works at One Bishopsgate Plaza, 160 Residential Apartment Fit Out

· Forth Valley College, Falkirk

· Maiden Castle Sports Park, Durham University

· Royal Cornwall Hospital, Truro, Mortuary and Bereavement Centre Refurbishment

· Waitrose, Portishead

· Claremont Complex Refurbishment, Newcastle University

[podgyted] 30/1/2019 12:46

I get my copy in post on Friday - but it is on internet and normally there Thursday tea-time if memory serves.

[lasmo] 30/1/2019 12:44

Squarepeg86 is the IC already out or is it being published tomorrow? And is it on the web or only in paper copy?

[squarepeg86] 30/1/2019 10:58

I also think Friday could prove to be interesting based on what somebody said here previously. After the very bullish article from IC published recently with a target price of 141p, and this Fridays edition on IC being Simon Thompson's Bargain Shares, could T Clarke feature? I hope so.

[from8to800] 30/1/2019 10:54

Just bought in as well. Looking strong technically, with what seems to be a classic Minervini VCP pattern and a most certainly bullish TS tomorrow.Onwards & upwards.

[squarepeg86] 30/1/2019 10:41

I've been here, just in the background with nothing to add really. Lots of exciting things going on here at the minute and a re-rate would be amazing. Looks like that 14k trade helped to free some shares up. I just took 5k at 95.2p, let's see what tomorrow brings now!

[cc2014] 30/1/2019 10:28

Good to hear from you Squarepegs. There appear to be 5000 shares available at 94.4p as of now.

[squarepeg86] 30/1/2019 09:35

Been tempted for a top up recently and was hoping there would be a few sells over the last week and I could get in before the buys. I wanted to pick up 5000 shares but can't without and order, and if I do a dummy buy the most I can get a price for is £1400 worth.

[igoe104] 29/1/2019 18:56

Always a positive sign, when the CE posts this.


TClarke

@tc_marklawrence
·
21h

A reminder we have a planned trading update on Thursday 31st January 2019

[edmundshaw] 28/1/2019 20:56

Superb newsflow that rivaldo, well spotted.

[rivaldo] 28/1/2019 12:48

Nice....



"Series of major wins for TClarke in North East

26/1/19 : TClarke has won a series of major projects in the North East as Operations Director, Jim Stewart explains:

We are very pleased to be able to announce our sucess in wining Claremont Tower for Newcastle University, the new 27 Storey residential landmark, Hadrian’s Tower, Maiden Castle Sports Centre for Durham University, The iconic Assembly Rooms leisure and theatre venue in Durham, St John’s College in Durham and Elm House in Morpeth. These are great wins for our business and signifant in a number of ways.

Claremont Tower is a large scale project and that alone makes it significant. Moreover it is our first project for a while working with Sir Robert McAlpine in the region. I am very pleased that our work to spread the TClarke name and capabilities in the North East is delivering results like this one.

Hadrian’s Tower is another large scale project that will stand out on the Newcastle skyline and another opportunity to spread our reputation.

The Maiden Castle Sports Centre for Durham University (pictured) includes world class sporting facilities including Sports Science laboratories, the latest generation of heated sports pitches and the refurbishment of various existing facilities.

Meanwhile the Assembly Rooms project in Durham will restore a 150 year old theatre and create an arts destination for the region.

We are delighted that these and other wins have shown that, against the backdrop of a highly competitive local market, TClarke has been able to pursue our sensible and steady strategic objectives. We have sought work that values our capabilites and where we can show value in return; our teams have worked hard to acheive these wins and it’s great to share their success."

[lasmo] 27/1/2019 11:43

Exert from recent NE region article on the TClarke “the Government has placed ever greater emphasis – when selecting contractors for public sector projects – on the ‘social value’ which investment in a construction project can deliver. Social value is measured in the economic and social benefits that come to a community and stay in that community when a project is built.

Decades before this was even a concept, pound for pound, TClarke has been delivering at the highest levels of social value. While others have preferred to switch to contract labour, and have minimised their costs or maximised their profits by stepping away from training, apprenticeships or full time employment, we have done the reverse.

We have not only maintained the best apprenticeship scheme in our industry, we have kept on investing to make it world class, we have extended it and, year by year, we have nurtured our people and helped them develop life-long careers at TClarke.

That’s why today, when TClarke works on a construction project in the North East, we are creating and sustaining high quality engineering careers in the North East, deepening the talent pool and offering people, young and old, the kind of jobs that literally build the local community.

This is already key in selection for public contracts and increasingly now, developers know that gaining planning permission will be to a growing extent dependent on their ability to show social value. ”

[cheshire man] 23/1/2019 10:07

If we get increased volume we could be looking at a chart breakout here DYOR

[rivaldo] 21/1/2019 11:41

Good to see the share price continuing to look very healthy going into the year end trading update on 31st January.

Which will reflect the end of November update:

"We are now pleased to report that the Board expects results for the full year ending 31st December 2018 to be ahead of current market expectations.

We expect an underlying operating profit before interest and taxation of circa £8.6m (2017: £7.3m) and revenue of circa £320m (2017: £311m). The implied underlying operating profit margin of 2.7% provides further evidence that we are on track to achieve our target of 3%."

[edmundshaw] 16/1/2019 16:51

Thanks for that rivaldo.

[rivaldo] 16/1/2019 14:57

Interesting new article from the CEO:



" CEO Insight : City confidence is still building upwards
15/1/19 Mark Lawrence, Group CEO

The City of London Corporation’s recent release of this image, showing how the City skyline is going to look in 2026, is a timely reminder of the underlying confidence in our developer client base in this sector.

The list of landmarks includes five buildings over 30 storeys which are currently under construction (of which 3 are TClarke projects) and identifies seven more towers which have planning consent including 1 Undershaft, 2-3 Finsbury Avenue, 100 Leadenhall St, 40 Leadenhall St, 130 Fenchurch and 1 Leadenhall St – over 250 storeys of new towers in total.

Our ongoing dialogue with our developer and principal contractor client base confirms that confidence is still strong. Stepping back from the current political uncertainties around Brexit, it is worth mentioning that in this our 130th year, we have experienced many political and economic ups and downs.

And this is a time of great change. From a macro-economic point of view, as much as Brexit may dominate our newspages, it is just one of a series of global mega trends – including globalisation, data and mega-cites – many of which will only serve to reinforce London’s importance as a global centre.

Within the context of our clear strategy, strong financial position, agile organisation, market-leading technology offering and growing market appetite for our services, the picture for TClarke remains distinctly positive."

[norbert colon] 15/1/2019 16:37

31st Jan 2019 confirmed on website

[wynmck] 15/1/2019 15:54

it was 1st feb last yr

[cheshire man] 15/1/2019 15:34

Good to see any upwards move in any of my holdings these days :-)

[from8to800] 15/1/2019 15:27

When's the TU due?

[norbert colon] 15/1/2019 14:39

Yes my thoughts exactly - I'm not chartist but the chart very much looks primed for a strong upward move. The next update will confirm the business is trading very well.

[cc2014] 15/1/2019 14:00

Resistance about to give way? About to escape from the wedge?

Can't be long now...

[lasmo] 11/1/2019 14:57

Tuscan, it will be interesting to see if you are correct. What’s interesting to me is what effect the new regional offices and higher margin work, leveraged off of the core brand, is having. If this translates into higher margins ie 3% plus, then a considerable hike in the dividend has to be on the horizon. IMHO i think the re-rating of this share will come well before the dust settles on wider market macro’s.

[tuscan4] 09/1/2019 13:26

I highlighted this in a recent comment. I'm no chartist but this is one of the most interesting patterns you can see. Some people say that when(if) it goes through the 91p area decisively (ie to say 93/94p ) and stays there for a few days, then you put a compass point on the breakout point and swing upwards from the start of the pattern(end 2015, or maybe early 2014). The former takes it to 150p, the latter to nearer 170p Clearly for these targets to be realized we will need a fairly healthy wider macro scene. Problematical!
Both of these targets can be supported by the fundamentals imo.
The trading update may contain some very good news on the current cash position. How would £15m net cash go down with the market?

[cc2014] 09/1/2019 10:37

Others might explain this better than me...

CTO heading into a wedge which goes back to 2014/2015.

Red lines show wedge is getting really tight. Depending on how you look at it top line of wedge is the red one at 90p or the green one at 92p

Bid is holding at 89p for longer and longer as sellers in this area get exhausted.