Share Name Share Symbol Market Type Share ISIN Share Description
Clarke T. LSE:CTO London Ordinary Share GB0002015021 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.90p -1.08% 82.60p 377,240 16:35:27
Bid Price Offer Price High Price Low Price Open Price
81.00p 84.20p 82.00p 81.40p 81.80p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 311.2 7.1 13.4 6.1 34.55

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T Clarke (CTO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-06-21 13:09:2983.0050,00041,500.00O
2018-06-21 13:07:0582.5050,00041,250.00O
2018-06-21 13:05:1183.0050,00041,500.00O
2018-06-21 13:04:3683.5050,00041,750.00O
2018-06-21 13:03:4384.0050,00042,000.00O
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T Clarke (CTO) Top Chat Posts

DateSubject
21/6/2018
09:20
T Clarke Daily Update: Clarke T. is listed in the Construction & Materials sector of the London Stock Exchange with ticker CTO. The last closing price for T Clarke was 83.50p.
Clarke T. has a 4 week average price of 78.80p and a 12 week average price of 78p.
The 1 year high share price is 90.88p while the 1 year low share price is currently 68.20p.
There are currently 41,829,577 shares in issue and the average daily traded volume is 40,606 shares. The market capitalisation of Clarke T. is £34,551,230.60.
07/6/2018
16:51
trekker60: The share price behaviour of this one really is very puzzling and the published buy/share indications muddy the waters even further. I sold part of my small holding* in this (2000 shares) just after 4pm today but the LSE website page for TCO lists it as a buy! *Purely because the share price performance over the last year doesn't make sense (at least to me) and that makes me wary.
23/5/2018
10:11
cc2014: tbh Rivaldo I find the N+1 note a fairly lazy piece of work. I get the EPS to 13.5 based on 41,829,577 (as annual report) plus share options exercised of 180,000 = 42,009,577 and a corporation tax rate of 19%. Maybe it's me or maybe N+1 haven't realised the corp tax rate changed about a year ago. And therefore the P/E becomes 5.9 In addition I cannot figure where they get their £13m net cash from. We ended 2017 with £11.7m net cash (page 1 of annual report). Add £7m profit less 19% corp tax (£1.3m) less dividends £1.5m should give us net cash of £15.9m, £2.9m more than N+1 come up with. N+1 may or may not be right about the cash but there's no explanation for their number. Further the current dividend is 3.5p and rose by 0.3p in 2017. To suggest it's only going up by 0.2p (5.7%) this year and 0.2p the year after when the profit is going up by 7.7% this year and CTO don't need the cash seems unlikely, really unlikely. I think part of the reason CTO's share price is so low is that N+1 aren't doing a very good job. Not enough attention to detail.
04/5/2018
14:37
cc2014: Thanks Squarepegs. CTO AGM is in two weeks time and there will be an announcement on the day as to their order book and their outlook on market expectations. So, there will be few people either buying or selling before than dependent on their mood and their attitude to risk. I'm not sure I agree the share price is falling. It went XD for 2.9p recently so the share price would be 81.9p on the bid ignoring that, which to me gives a slow uptrend on either a long term or short term basis. I agree it has been higher but not for sustained periods of time. Anyways good luck and welcome to the CTO Board.
04/5/2018
13:51
cc2014: Hi Squarepegs, As someone kindly pointed out to me about 100 posts ago there's no point watching the trades on this stock as the if you believe in the trade it will turn out OK in the end. Someone is clearly continuing to sell. I have two theories, not that it makes much difference. The first is that it's Danny Robson, an ex-director of CTO who resigned around 2 years ago. At time he resigned he had 1.3m shares or 3% of the company and we know he sold 250k in one block at 90p about 2 years ago. We have no idea whether he has kept the rest, sold them all or is somewhere in-between but my guess is that having left CTO, he will be aiming to sell the lot. He can't go on forever and probably doesn't have that many left by now. The second surrounds MIFID II. This has created a lot of churn in the market and I believe CTO has been affected more than most. Again it doesn't really matter as bit by bit I believe the share are moving to long term holders with a high level of commitment to holding. i.e. they aren't looking for a 10% return but a 100%+ return so once the share price starts rising it won't be held back by a plethora of sellers each time it moves up 5p. it's got to get through 90p first though which will be a barrier. PS - I do find the trades very very frustrating as they never correlate with anything which again suggests to me the seller is driven by a requirement to sell. Today Kier is up 1.9%, MGNS up 1.5%, GFRD down 0.3%, so why on a day like today do you sell CTO? Death, divorce, need for monthly income all possible reasons.
24/4/2018
13:58
cc2014: Good afternoon Tuscan. I will be going to the AGM and look forward to chatting to the Board about a few things although none of it I will be raising in the open meeting as that's not my style. I share your concerns over the Directors pay as their reward is linked to profitability and not share price. One should follow the other but it hasn't with CTO. I do think they are making good long term strategic decisions and have ambition but I remain frustrated this doesn't flow to the share price. I examined the pension fund deficit calculation in some detail and if you look at the assumptions, it is the usual CTO cautious stance. I would suggest based on others I've looked at, when we come to the three yearly revaluation the deficit will drop. Interestingly they had £6m in cash in the pension fund at the end of the year which would represent about 15% of the assets. Probably a good move given the market peaked at the end of the year and asset values are now significantly lower. Yes those arrows on the risks did my head in. At first reading they looked the wrong way round to me. It could have been clearer. I see we have managed to get through nearly 6 hours today without someone selling any shares. Yesterday we had a whole raft of sellers again with some very strange price action on L2 at the end of the day where despite all those sells the offer went up in the last 10 minutes on the basis of one 10k buy. We are XD this week for 2.9p I too look forward to a significant re-rating in the share price. Something beginning with a 1 would be a good start.
11/4/2018
09:53
cc2014: Good morning. The bid concept is something I have mixed feelings about. At the current share price the P/E and cashflow is going to make CTO look very cheap to anyone who wants to acquire a building services company in the UK. NG Bailey, CTO's main competitor and the biggest in the UK certainly have the clout. Their accounts show that at the end of Feb 17 they have cash and liquid investments of £84m. NG Bailey are privately owned and have been around for decades. Interestingly the type of work they do is sufficiently differentiated from CTO that it would make a good fit. NG Bailey of course do the commercial office blocks and infrastructure but not on the same scale as CTO. NG Bailey do far more term maintenance, facilities maintenance and some of the really big stuff like Hinkley point nuclear power station. I'm pretty sure NG Bailey will pick up HS2 which CTO wouldn't be interested in. I don't think any takeover is on the cards though. What's more interesting is showing where CTO could go given time. At the moment CTO are focused on technical innovation (better margins) and spreading geographically in markets they have a great reputation in. A good strategy and one I support. Lots of opportunities related to diversification though at the right time which I don't think is now. Best to continue to do what you do well rather than overstretching. Actually I would cry if there were a takeover bid at 110p. 150p I could cope with I guess but I'd much rather the share price moved to 100p by the end of the month so that the P/E only looked "stupidly low" rather than "bizarrely low". That doesn't seem too likely though. lol. Finally I do agree there is someone out there collecting stock. They were collecting in the run up to results at 78p and now I think they are prepared to pay about 83p. I say this as the trade flow suggest more sells than buys yet the share price is stable. Whoever it is, I consider them professional. They are extremely patient and are clearly trying to get the stock as cheap as possible rather than embarking on a smash and grab raid by pushing the price up. This strategy will work for them as long as a second buyer doesn't come along.
05/2/2018
10:30
cc2014: I too subscribe to "no point in having a portfolio which tracks the FTSE." I have 14 stocks and 1 bond in my portfolio and I have a mix of decent paying yield stocks and growth stories. Some are both which are even better. I'm pretty comfortable with 15 - it's a number I can manage and know the companies inside out. I would be comfortable raising this to 20 CTO comprises 48% of my portfolio with no other stock over 10%. I would not recommend this approach unless you are absolutely sure of your investment. My purchases have been at a variety of prices from the low 40s so it didn't start out as 48% of my portfolio but a lower percentage. Regrettably I have a few in the low 80s when I've got a little over-enthusiastic but this is only a regret in terms of my timing not my willingness to hang onto them. My reasons for the trade are: 1. I worked at Director level in the M&E contracting industry for 8 years so I know this business inside out. 2. The board of CTO has the strategy right for their sector 3. I have met Mark Lawrence the CEO, other members of the Board and some of their senior staff and I'm comfortable they know what they are doing, work together as a team and their skills match those that staff in these senior levels should have 4. I like the style of under-promise and over-deliver 5. The trading updates and RNS's are absolutely clear. There is no attempt to paint a picture that is either better or worse than it really is. 6. The P/E ratio, EV, net cash all support a view of a healthy company that is managed financially well. Only the NAV is a drag due to the pension scheme deficit which they have a published recovery plan for and increasing bond yields will improve this over time regardless of the recovery plan 7. The dividend of 3.3p (probably 3.5p when results are published) gives me a yield of 4.4%. As they are only paying out 32% of post tax profits as dividends and they have no debt to speak of except the pension deficit which is being recovered anyway, the worse case scenario would appear to be that the dividend would provide a floor under the share price 8. Finally the current £6.5m profit is being produced against a background of low economic growth and poor construction output & PMI's. When these figures pick up sometime in the next 5 years profits will grow fast through a margin pickup. Over a five year period It's king of like I see the dividend providing a floor such that the dividend yield won't let the share fall below 70p, so a downsize of 5p, but I've got an upside of 175p.
01/2/2018
08:52
cc2014: Morning all. I see as usual the MM's have taken out a load of stops and someone got really screwed at 73. Trading in-line. Cash £2m better than expected and now at £12m. Further confirmation no impact from CLLN. So, on to the FD. After the £2.4m fraud I was surprised he didn't go then. Hard to retain credibility after it's happened on your watch, especially since after in excess of 5 years purchase of the subsidiary involved it appears part at least of the payment process was being done locally. And then there's the badly worded RNS a couple of years ago on the covenant breach which caused the shares to collapse even though there was no danger to the cash situation or bank lending. The RNS is here if you want to read. The first one is the statement, the second one is the one they had to rush out after the share price reaction. https://uk.advfn.com/stock-market/london/t-clarke-CTO/share-news/ClarkeT-PLC-Interim-Results-Announcement/63144407 https://uk.advfn.com/stock-market/london/t-clarke-CTO/share-news/ClarkeT-PLC-Clarification-Regarding-Banking-Facil/63199974 I note he hasn't left to go to another job. In fact no mention of why at all. And the fact they've had a heavyweight interim in working alongside him for a while. I suggest he's been exited by the Board in an orderly fashion and should be helpful to the share price in the long term.
08/11/2017
12:50
tuscan4: I too am a patient investor. 4 years in January since my first purchase. Unfortunately the outlook for the construction sector has deteriorated in recent months,so it is understandable that a steady drip of selling is taking place. Could it be that technical factors are also weighing on the CTO price? MIFID II in January will negatively impact interest in smaller companies and perhaps the few remaining investment advisors left in the City who are able and willing to look at the CTO's of this world may throw in the towel. I retired from stockbroking nearly five years ago in the face of rising regulatory onslaught, and I suspect that the new breed of "advisors" must sing from a fairly bland song-sheet and have little appetite for sub £100m companies. Indeed , the appetite for investing in individual companies is under attack, as risk levels are racheted downwards. Current CTO selling may be merely partly the result of portfolio cleansing and not specific to the company. Value will out has always been part of my investment philosophy, however , with the rise of Passive investing, which will never encompass smaller companies, we must now assume that there will be a growing disparity between large/small, liquid/illiquid stocks . For the smaller quoted company this opens the way to acquisition, and perhaps CTO could be vulnerable on this count but after 100 years plus as an independent company one shouldn't hold ones breath. If ,as I believe CTO will come in with c £8m pre-tax, a strong balance sheet,a diminishing pension problem as rates go higher, and a business model which will help build an economic moat around its market position, then the shares are clearly outstanding value sub 100p. Patience will be rewarded IMO.
09/8/2017
09:35
cc2014: Choices are: a) economy keeps bumbling along at a fairly depressed rate of growth for next five years due to Brexit. Growth still exists though and CTO are able to continue to improve turnover and margins by a small amount = gradual rise in share price b) economy keeps bumbling along at a fairly depressed rate of growth for next five years due to Brexit. Growth still exists though and CTO are able to continue to improve turnover and margins materially and no further one off shocks = decent rise in share price c) deal done with Europe over free trade = pick any construction share you like and get an instant 25% rise in share price plus longer term growth d) no deal with Europe. Probably looks like a) as certainty is better than never ending not knowing. Could result in instant fall in share price following by gradual increase as happened after referendum vote
T Clarke share price data is direct from the London Stock Exchange
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