Clarke(T.) PLC AGM Statement (4765O)

TIDMCTO

RNS Number : 4765O

Clarke(T.) PLC

18 May 2018

TClarke plc

AGM AND TRADING UPDATE

Ahead of the Annual General Meeting, being held today at 10.00am at 200 Aldersgate, St Paul's, London EC1A 4HD, TClarke plc ("TClarke" or the "Group"), the Building Services Group, issues a Trading Update covering the period from 1(st) January 2018 to date.

We are pleased to report that we continue to expect revenues and profits for 2018 to be in line with current market expectations. To put those in context for the year ending 31 December 2018, these are forecast to be revenues of GBP300 million, underlying profit before tax of GBP7.0 million and underlying EPS of 13.2p. We also expect to maintain our trend of underlying positive movement in net cash year-on-year.

Our forward order book has been replenished and as at 30(th) April 2018 stood at GBP368 million, increasing from GBP337 million as at 31(st) December 2017. Encouragingly, we are seeing no lack of opportunities, but we maintain a strict policy only to bid for projects that meet our internal risk analysis and where we are comfortable with the covenant and market reputation of the contractual counterparty.

Overall, the planned Group revenues for 2018 have now been secured with some capacity in the North West and Newcastle businesses to address. Future secured revenues are GBP145 million for financial year 2019 and GBP40 million for years 2020 and beyond.

Since our last announcement on the 27th March 2018, we are pleased to announce that recently secured projects include:

   --      Electrical Infrastructure Resilience works for BAE Systems 
   --      Rolls Royce, Trent Hall, VRV replacement, Derby 
   --      Cancer Research Fit Out Building S9, The International Quarter, Stratford 
   --      Battersea Power Station Phase 2, Electrical Infrastructure 
   --      St Johns College, Durham 
   --      Royal National Orthopaedic Hospital, Stanmore - 4th Floor Fit out 
   --      Virtus Data Centre, Slough 
   --      Ashurst, Project Loop, London 
   --      Donaldson's, The Crescent, Edinburgh 
   --      Gorse Academies Trust, FM contract renewal serving ten academies in the Leeds area 
   --      Additional FM works for CBRE and Servest across the UK 
   --      Princess Alexandra Maternity Wing, Royal Cornwall Hospital Services Upgrade 

Once again, TClarke has made an excellent start to the year and the Board looks to the future with continued confidence.

The next update is scheduled for 7(th) August 2018 with the release of the Group's Half Year results.

-ends-

18(th) May 2018

For further information contact:

TClarke plc

Mark Lawrence - Group Chief Executive

Trevor Mitchell - Finance Director

David Lanchester - Company Secretary

Tel: [phone]

www.tclarke.co.uk

N+1 Singer (Financial Adviser and Broker)

Sandy Fraser

Rachel Hayes

Tel: [phone]

www.nplus1singer.com

RMS Partners

Simon Courtenay

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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May 18, 2018 02:00 ET (06:00 GMT)