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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tclarke Plc | CTO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.25 | 0.16% | 161.50 | 16:35:02 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 161.00 | 161.00 | 162.00 | 161.50 | 161.25 |
| Industry Sector |
|---|
| CONSTRUCTION & MATERIALS |
| Top Posts |
|---|
Posted at 16/4/2024 08:39 by owenski This country has been a financial disaster since Brexit, Covid didn't help but either. Interestingly the people who moan about companies being bought out on the cheap - because there seems to be no investor appetite - are the ones who voted for it. Suck it up. |
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 (‘TClarke̵ 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 14/11/2023 08:51 by john09 Hi allNew thread for sharewatchers. General chat about SCSW followed stocks so investors can discuss 2024 etc. No sharing of subscriber only information |
Posted at 11/11/2023 12:28 by igoe104 Investors rather stick money into bitcoin rather than good solid companies like CTO. Most of these cypro Investors don't even know what they are investing in themselves.Its hard to believe bitcoin is up 121% YTD whilst good companies continue to struggle. 🤷 |
Posted at 22/9/2023 10:29 by rivaldo Momentum Investor said Buy in their last-but-one September issue. Here's their summary:"In response to an order book growing from £586m in H1'22 to the current £781m and a pipeline in excess of £1bn, electrical and mechanical contractr T Clarke has raised £10.7m gross via the issue of new shares at 122p. The funds will be deployed to deliver identified contract opportunites in London as well as strengthening the balance sheet. The buoyant placing cam just before interim results, which were in line and showed a slight decrease in EBIT profit to £5.7m (£down £0.3m) but with EBIT margin up 0.1% to 2.8%. This year will be a stub year (Cenkos eps: 17.4p ) before a surge to 24.2p and 27.1p. T Clarke's markets are resilient with growth hot spots in government-backed infrastructure such as new hospitals, data centres and the move to net zero (driving office fit-outs) and with the prospective PE for next year dropping to just 4.8 and the dividend yield a useful 4.6% (5.9p forecast), I am a buyer." |
Posted at 06/8/2023 07:22 by rivaldo Tipped by Midas in today's Mail:Conclusion: "Midas verdict: Midas recommended TClarke in 2017 when the shares were 76p. By last year, the price had surged to £1.53. Today, they are £1.30. That decline should swiftly reverse. TClarke is known for delivering top-notch work, 90 per cent of its customers come back for more and the recent fundraise highlights management confidence in the future. Existing investors should hold. Newcomers to this business could also find the current price attractive." |
Posted at 17/7/2023 08:54 by thorpematt Over 99% voted FOR the all the resolutions at the AGM (including the remuneration).I regard the register as having only one institutional investor. (Regent I would say is a family office type investor). So that leaves it to the PIs to vote entirely as they wish. Page 26 onwards of the PDF if you are interested in the policy and the numbers: - |
Posted at 13/7/2023 14:11 by grahamburn Suspending a dividend has a slow effect on the balance sheet as well as working capital, whilst disappointing, even annoying, long term investors who have become accustomed to a rising dividend. A quick one off fund raise reassures prospective public sector clients who require solidity in their suppliers. |
Posted at 06/7/2023 08:35 by igoe104 Your loss. They have picked up alot of smart hospital contacts, and data centre work in the last few months. Over the next few years the figures are going to look very rosy.Too many investors think to short term.. I suppose its difficult to raise single digit figures in this higher interest rate environment.. |
Posted at 06/7/2023 08:30 by igoe104 This day of an age, investors only think short term. They have won loads of contacts recently, so obviously need more working capital. And this environment you not going to raise cash in single digits. |
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