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CTO Tclarke Plc

123.50
0.00 (0.00%)
Last Updated: 08:00:09
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tclarke Plc LSE:CTO London Ordinary Share GB0002015021 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 123.50 5,945 08:00:09
Bid Price Offer Price High Price Low Price Open Price
120.00 127.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Special Trade Contractor,nec 426M 8.4M 0.1589 7.77 65.27M
Last Trade Time Trade Type Trade Size Trade Price Currency
08:02:00 O 3,945 125.90 GBX

Tclarke (CTO) Latest News

Tclarke (CTO) Discussions and Chat

Tclarke (CTO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08:02:02125.903,9454,966.76O
08:01:14125.002,0002,500.00O
2024-03-18 16:29:01124.501,2801,593.60O
2024-03-18 16:28:00127.501519.13O
2024-03-18 16:28:00122.001113.42O

Tclarke (CTO) Top Chat Posts

Top Posts
Posted at 19/3/2024 08:20 by Tclarke Daily Update
Tclarke Plc is listed in the Special Trade Contractor,nec sector of the London Stock Exchange with ticker CTO. The last closing price for Tclarke was 123.50p.
Tclarke currently has 52,850,780 shares in issue. The market capitalisation of Tclarke is £65,270,713.
Tclarke has a price to earnings ratio (PE ratio) of 7.77.
This morning CTO shares opened at -
Posted at 18/3/2024 20:54 by tole
https://masterinvestor.co.uk/equities/small-cap-catch-up-fan-cto-and-stvg/Analysts Andrew Gibb and Guy Hewett at Cavendish Capital Markets estimate that the year to end December 2024 will see £600m revenues, with adjusted pre-tax profits rebounding to £17.1m, hoisting earnings up to 24.1p and amply covering a 6.5p dividend per share.For 2025 they see £650m, £19.1m, 26.9p and 7.1p respectively.Those estimates easily back up the analyst's Medium-Term Price Objective of 197p for the group's shares.At the end of last week, the shares, which hit 159p last June, were fractionally lower at 122.50p – at which level they are a strong hold for existing shareholders and offer a bargain for newcomers.
Posted at 15/3/2024 18:43 by owenski
Agree with that, the board certainly use the business to pay themselves rather well, CTO isn't exactly a cash machine as it's results testify. It's a low margin business that's now on even lower margin.
Posted at 15/3/2024 15:59 by brad_k
Whilst they have doubled revenues since March 2021 they have only increased the share price by < 20%. In fact the share price was 110p back in March 2019.
Perhaps they could express their growth goals in terms of EPS so as to align the boards interests a little more with shareholders.
Posted at 15/3/2024 11:02 by rivaldo
I'd also add that the type of work CTO are now more and more involved with - particularly "smart" buildings, perhaps data centres too - surely bring higher margins as these are much more technically demanding and specialist.
Posted at 15/3/2024 08:10 by igoe104
Even with margins of 3%, compared to the market cap and cash pile, if things go to plan with them revenues CTO will have a bumper year..

3% on 600 million revenue, nearly doubles profits...
Posted at 15/3/2024 07:34 by rivaldo
The market should ideally have already priced in the reduction in PBT.

But the overall health of the company looks terrific, with the order book up 70% to a whopping £943m and a positive forward outlook. The move into data centres has been a huge success and should continue to thrive.

Net cash at £19.3m compares nicely to the £67m m/cap.

Cabendish have left their forecast for 2024 unchanged at 24.1p EPS

They have a 197p price target.
Posted at 07/3/2024 08:26 by igoe104
Looks like CTO are gearing up for lots of growth in the south.
Posted at 06/3/2024 14:59 by rivaldo
This dated yesterday just reinforces my view that CTO really are a top quality company always looking to the future, whatever your views on cyclicality etc:



"TClarke Climate Solutions team leads major decarbonisation project with Exeter University

One of TClarke’s successful in-house startups, Climate Solutions leads critical decarbonisation projects in public and private sectors generating substantial revenue. Director Gary Tidball explains:

The present time is the perfect opportunity for us to utilise our engineering skills. Companies in all areas of the UK economy are required to move away from using fossil fuels and switch to low-carbon energy sources and more efficient energy systems. This is a complex engineering task that demands specialised skills, integrated teams, and expertise. Fortunately, we possess all these qualities and can deliver successful outcomes.

Recently, Climate Solutions completed the Bio-Science project at Exeter University with Willmott Dixon (pictured). The client from the University stated, “I do want to say that it has been a long time since I have seen such a quality M&E installation.”

This project is part of a broader decarbonisation project across the entire University Campus. Climate Solutions is also working on another project at Cornwall House, where they are removing two large commercial gas boilers and replacing them with a cascade heat pump system. The existing boilers serve the heating/hot water services and a swimming pool, so our challenge is to keep all these systems online while transitioning to the new heat pumps.

The Climate Solutions Team supports all the Group offices across the UK and is currently working with Oxford on projects at Portsmouth and Bournemouth Hospital and will be working with Bristol at Guys Marsh Prison and with Derby and Peterborough on various projects and also with London and the Design and Build Team."
Posted at 03/1/2024 12:35 by rivaldo
FYI I came across analysis from the IC's Simon Thompson not posted here before:

"TClarke’s forecast profit recovery is underrated

The building services contractor’s record order book should deliver a 90 per cent recovery in 2024 earnings, a factor not reflected in a miserly forward PE ratio of 4.9

November 30, 2023
by Simon Thompson

Record £1.1bn order book
20 per cent revenue growth forecast in 2024
One-offs costs to dent 2023 earnings
EPS set to rebound 90 per cent in 2024
Net cash position better than forecast

Building services contractor TClarke (CTO:117p) has reported a 41 per cent increase in its order book in the second half, more than doubling in value to a record £1.1bn since the start of the year. In addition, the group has more than £1bn of quotations in the tender process with potential clients. This provides strong visibility of revenue for the next two financial years and is supportive of house broker Cavendish’s revenue estimates of £600mn (2024) and £650mn (2025), up from £500mn forecast in 2023.

The boom in data centres and smart buildings have been key growth drivers. The
segment delivered 31 per cent of first-half revenue and accounts for a third of the £1.1bn contracted order book, up from a 20 per cent share at the start of this year. Work on major engineering projects is another boom area, accounting for £489mn of the order book, up from £225mn in December 2022. For instance, TClarke is working on major UK government-funded healthcare infrastructure projects, such
as the National Rehabilitation Centre near Loughborough, one of 40 new hospitals to be built by 2030. It is also enjoying ongoing success in the education sector, too.

The booming order book notwithstanding, the turbulent conditions in the construction sector are impacting several market participants. This prompted the board to make the strategic decision to enter early contract agreements and
change some supply chain partners mid-contract to protect completion dates. These actions have incurred one-off costs of up to £3.2mn, which explains why operating profit guidance has been lowered from £12.2mn to £9mn-£10mn for the 2023 financial year, down from £11.5mn in 2022. On this basis, analysts now expect a 30 per cent
decline in current year pre-tax profit to £7.2mn, and 35 per cent lower earnings per share (EPS) of 12.7p.

That said, the actions protect the business, and with the benefit of a greater proportion of higher-margin work on data centres and smart buildings, as well as more complex projects, analysts forecast a strong rebound in TClarke’s
profitability in 2024. The house broker expects operating profit to double from £9mn to £18.6mn (2024) based on operating margin improving from 1.8 to 3.1 per cent, slightly above the group’s 3 per cent target.

On this basis, EPS is projected to rebound by 90 per cent to 24.1p, implying the shares trade on forward price/earnings (PE) ratio of 4.9.

Well-funded to deliver step up in revenue and profitability

The £62mn market capitalisation group remains well funded. In fact, the directors expect closing year-end net cash of £15mn, or £6mn higher than Cavendish’s previous forecast. In addition, the group has access to £30mn of low-cost bank facilities with NatWest to fund working capital as revenue scales up, as well as £65mn of bonding facilities that are used for a third of contracts, a key differentiator from rivals in the bidding process.

The recovery in 2024 profitability and the absence of this year’s one-off costs should also drive a marked improvement in free cash flow (FCF). Analysts expect FCF to more than treble to £7.6mn next year, implying a FCF yield of 12.2 per cent. That’s good news for the progressive dividend policy. Indeed, analysts expect the
payout per share to be raised by 10 per cent to 5.9p (2023) and 6.5p (2024), which underpins dividend yields of 5 and 5.5 per cent, respectively.

The low earnings multiple, chunky dividend yield and structural growth drivers in TClarke’s key end markets more than compensate for the reversal in this year’s profits, albeit the share price has dipped below the 122p placing price when TClarke raised £10.7mn in an oversubscribed equity raise (‘TClarke̵7;s order book goes from strength to strength’ July 2023). That said, the holding is still 56 per
cent in profit since I initiated coverage (Alpha Research:: ‘Profit from a buoyant earnings‘ cycle’, 7 December), during which time the FTSE Aim All-Share Total Return index has shed 15 per cent of its value.

Once the dust settles, and investors focus on next year's earnings recovery, expect the share price to recover. Buy."
Posted at 14/6/2021 07:18 by igoe104
Looks like more bad news for NMCN, is having a effect on CTO share price today. Even though CTO is a completely different animal...
Tclarke share price data is direct from the London Stock Exchange

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