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CTO Tclarke Plc

0.00 (0.0%)
Last Updated: 11:36:21
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 0.0% 121.00 25,406 11:36:21
Bid Price Offer Price High Price Low Price Open Price
120.00 124.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Special Trade Contractor,nec 426M 8.4M 0.1589 7.61 63.95M
Last Trade Time Trade Type Trade Size Trade Price Currency
13:45:18 O 2,000 123.11 GBX

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Posted at 04/12/2023 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 121p.
Tclarke currently has 52,850,780 shares in issue. The market capitalisation of Tclarke is £63,949,444.
Tclarke has a price to earnings ratio (PE ratio) of 7.61.
This morning CTO shares opened at -
Posted at 30/11/2023 12:03 by tim1478
Very disappointing. Setting stop loss not far below present price
Posted at 30/11/2023 09:49 by owenski
The problem with CTO is it's a low margin business and they've never have a lot of cash on the books either, it's just not attractive.

They said some time back that their margins in aggregate would move beyond 3% due to increasing contracts in data centres et al, this doesn't seem to have happened.

They touted more cash at this TU but they also tapped up the markets earlier this year, how much of their cash buffer is residue from that.

I suspect the divi will be flat as well.

Great pay and benefits for the directors who don't have much skin in the game and a poor return for shareholders, might be worth a buy and hold if if went sub 100, but nothing about this business is that attractive, 500m revenue targets are pointless if the already thin margins are under more pressure.

Posted at 30/11/2023 07:40 by effortless cool
I sold out a few years ago because I felt the management was untrustworthy. My breaking point came with the £2m investment in Gooee, which promptly went bust, with the £2m hit being taken surreptitiously below the line with no comment in the CTO results. The Gooee liquidation showed no trace of this £2m, which purportedly bought a minority shareholding for CTO in the business. I am not convinced that it ever reached Gooee.
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 29/8/2023 13:48 by thorpematt
I reckon this is way below any fair valuation - even on a contractor's discount. So I have increased position size.

I ought to add that I took quite a bit off the table at a far higher price in late 2021, so in some respects I am simply buying back what I sold.

The fundamentals for the sector have continued to develop positively since and predictions of a rise in net margin here rather backs that up.

I have made deductions for PD contributions and used PAT as opposed to PBT and I still cannot justify the discount.

If you consider the demand for data centres,smart buildings, energy transition etc. the tailwinds here, coupled with the company's expertise (barrier to entry) mean the investment case is compelling. And at this discount it make sense to load up a little I think.
Posted at 02/8/2023 12:43 by rivaldo
The tip for CTO in July's Momentum Investor write-up hasn't been posted here, so here's its concluding summary:

"Order book up £135m

Looking ahead, prospects are rosy with the AGM statement noting that following strong trading in the early months of 2023, the order book has increased from £585m to £720m, covering most of this year's forecasts right through to 2025. As well as data centres it has great prospects in healthcare, ranging from fitting out single MRI rooms to two new hospitals in Bournemouth and Scarborough as the Government's much delayed 40-strong new hospital program swings into action. Even the mature commercial office refurb market is gaining a kicker from legislation to upgrade the energy saving credentials of a building to band E or better before from April 2023 and band B by 2030. Lawrence says the overall bidding pipeline is now over £1 billion and crucially Clarke's capacity investment means it could handle turnover above £700m without recourse to further spend.

With next year's prospective P/E just 6.4 (me - at the then 153p) and underpinned by a useful 3.9% (5.9p forecast) dividend yield, the shares have both short term and longer term potential. I am a buyer."

In addition:

"this month's front-page write-up, mechanical and electrical contractor TClarke, is benefiting from a massive boom in data centre construction. A confluence of factors ranging from growing cloud adoption, the Internet of Things, emerging technologies like AI, big data and blockchain, data compliance (driving demand for its storage) and the roll-out of 5G infrastructure have all led to a steep increase in demand for data centres."
Posted at 18/7/2023 06:37 by tole
A little write up on MI last week too (LON:CTO) – Record Order BooksThis very well-established building services group announced it half year results yesterday and the statement was more than encouraging.The revenues for the six months to end June were hardly changed at £207m (£206m), while the pre-tax profit was lower at £4.8m (£5.5m), with interim earnings easing to 8.68p (10.24p), but with an increased halfway dividend of 1.375p (1.25p) per share.However, we can now expect a very much stronger second half, with almost £300m sales anticipated, taking it up to some £500m for the year.The record order book of £781m (£586m) helps the group going forward, with £600m sales in 2024 and then at least £650m in 2025 being group targets.Analyst Andrew Gibb at Cenkos Securities rates the group's shares as a Buy.He estimates £10.7m adjusted profits for 2023, worth 17.4p in earnings and paying a 5.9p dividend per share.Jumping ahead he sees £17.1m profits next year, worth 24.2p enabling a dividend lift to 6.5p.The shares closed last night at 131.5p, undervalued at this price.(Profile 10.12.19 @ 120p set a Target Price of 165p*)
Posted at 17/7/2023 10:27 by rivaldo
Tipped in the IC by Simon Thompson - subscriber-only unfortunately:

"TClarke's order book goes from strength to strength

Building services contractor’s technology also has £1bn of tenders in the pipeline
July 14, 2023
By Simon Thompson

Record £781mn order book, up £195mn year-on-year
Pipeline of current tender bids exceeds £1bn
Revenue guidance £500mn (2023), £600mn (2024) and £650mn (2025)
£10.7mn oversubscribed placing to support growth
Single-digit PE ratio and attractive dividend yield

Building services contractor TClarke (CTO:132p) has reported a 33 per cent year-on-year surge in its order book to a record £781mn at the half year stage. First half operating profit of £5.7mn was slightly down on flat revenue of £206mn, but it's not a concern given the material second half weighting as the contracted order book is delivered. The directors are maintaining guidance for 17 per cent growth in full-year revenue to £500mn.

Such is the strength of trading that the group now has more than £1bn tenders in its bid pipeline, too. The boom in data centres, the segment accounted for 31 per cent of first half revenue, and smart buildings are key drivers as is growth in the London market and improved revenue visibility outside of the capital. The technology sector order book has increased 35 per cent to £248mn in the past 12 months.

Posted at 06/7/2023 10:45 by rivaldo
The core business is going great guns and needs funding to finance the growth. Fine. But the discount to the share price is too great to stomach easily. Let's hope those who didn't get enough stock due to the oversubscription come into the market to buy up stock.

Prospects look terrific with, as Cenkos state, "government backed investment in infrastructure, the move to net zero and the significant expansion in the Data Centre market)" plus healthcare and the move to smart buildings generally.

Cenkos conclude:

"View and current trading:

Alongside today’s placing announcement, the group has confirmed that trading since the last update (10 May 2023) has continued to be strong, with the order book increasing to £781m, a sharp uplift to the FY22A position of £585m. It is also £4.5m cash positive as at 30 June 2023. There has been a step change in the growth of this business in recent years (with a record year of growth delivered in FY22) it has deep relationships with its client base (90% of its contracts are with repeat clients and (or) principal contractors) and the order book provides the group with excellent visibility. 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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