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| 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% | 159.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 159.00 | GBX |
Tclarke (CTO) Share Charts1 Year Tclarke Chart |
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1 Month Tclarke Chart |
Intraday Tclarke Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/7/2024 | 20:13 | Clarke T - solid business opportunities with the Olympics | 4,467 |
| 11/1/2013 | 10:35 | CTO: A RECOVERY STORY! | 2 |
| 29/9/2010 | 19:01 | CLARKE - Teeing itself up for a big rise | 321 |
| 23/1/2009 | 18:38 | Citigold - bonaza Gold but can they ramp it to 300oz per year? | 1 |
| 01/7/2005 | 18:56 | CTO Trading Statement | 263 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 28/6/2024 20:22 by jaknife She should expect cash from the takeover on, or possibly before, 9th July. That will be an amount of 160p per share.The timetable was set out in this RNS: The "Effective Date" was 25 June, see: And hence, if you look in the timetable, the date that is labelled as "Latest date for despatch of cheques and for settlement through CREST of other form of payment in respect of Consideration due under the Scheme" and which equates to "By 14 days after the Effective Date" is 14 days after 25th June, which is 9th July. JakNife |
Posted at 02/5/2024 10:29 by tiswas The directors cash in a stack of options and presumably are being looked after by a long term major shareholder. I think they know exactly what they are doing, float it again in a few years time at double or treble the price and make a killing again. |
Posted at 30/4/2024 17:00 by petomi I notice that Simon Thompson in the Inv Chronicle shares my view that quoting the historic P/E does not adequately reflect their prospects and thus serves to disguise the paucity of the offer:"The acquirer states that the 160p-a-share take-out price equates to 11.6 times last year’s earnings per share (EPS), but it makes no reference to the fact that earnings were depressed. In fact, pre-tax profit is forecast to bounce back from £7.6mn to £17.1mn in 2024 to drive a 75 per cent rebound in EPS to 24.1p. The exit multiple is hardly generous at 6.6 times earnings estimates and TClarke has net cash of £19.3mn, a sum equating to 21 per cent of the offer price. The fact that the final dividend of 4.5p is being paid is immaterial as it’s owed to shareholders for the 2023 financial year. I would vote against the scheme of arrangement." hxxps://www.investor GLA |
Posted at 19/4/2024 12:29 by 18bt Now up to 2% and share price above offer price, so have they bought some more this morning? A number of sells at just above the offer price. |
Posted at 16/4/2024 07:16 by rivaldo So Regent are to acquire CTO for just over 164.5p. A good result for me investment-wise, but a very poor one in terms of CTO's worth, and taking advantage of the one-off dip following the very unusual contract difficulties last year.Regent have 21%, so 24% including the directors' shares. Maybe not enough to win through if there's significant opposition or to defeat a rival bidder? Yet another example of listed UK companies being extremely undervalued, especially a top quality company like CTO given its increasing exposure to data centres, healthcare, ESG and the like. |
Posted at 19/3/2024 15:00 by rivaldo FYI here's Cavendish's summary from their new research note, forecasting 24.1p EPS this year, with a 6.5p dividend and £16.6m net cash:"High quality projects across a range of sectors TClarke’s FY 2023 results and forward-looking commentary are in line with the November trading statement, and we make no changes to our forecasts. Revenue of £491m in 2023 exceeded the 3-year plan to double revenue from £232m in 2020 and management have confirmed the group is well positioned to achieve growth plans for 2024 and beyond backed by the £943m order book (up +70%). FY 2023 PBT of £7.6m is down from £10.3m in 2022 due to the previously highlighted measures to protect the business from the current, very challenging construction market conditions. These measures included changing some supply-chain partners mid-contract to protect project completion dates, and the early finalisation of project accounts where customer risk had been identified. All projects are expected to be delivered according to their schedules but the one-off costs of these measures restricted the operating margin to 1.9%, below the target 3.0% (2022: 2.7%, 2024E 3.1%). We reiterate our view that on a 2024E P/E of 5.3x (vs peers 9.1x who are subject to the same market challenges), dividend yield of 5.1% and net cash of £19m the valuation underestimates the company’s long-term growth potential, and market and financial position. The key driver for the share price will be increasing evidence as the year progresses of forecast deliverability. - Order book up 70%. The strategy of organic growth focused on five core market sectors whilst building market presence in data centres, large projects outside of London, smart buildings and healthcare is delivering. Data centres now account for £346m within the total £943m order book. This total compares to £1.1bn at October 2023 due to the normal seasonally lower win rate at the end of the year being offset by orders completed (H2 revenue was up +37% on H1). - Net cash £19.3m up from £7.5m. Key movements were: equity raised £10.1m, dividend cost £2.5m, and free cash flow £4.1m. Importantly, given the market conditions, bad debt expense was only £0.3m and in line with the group’s historical average. On the balance sheet contract assets increased by £30m as one of the large, multi-year contracts ramped-up activity, offset by a £30m increase in trade creditors reflecting the strong cash characteristics of this contract. - Dividend raised 10% as expected. The 2023 dividend was raised to 5.9p from 5.35p reflecting the progressive dividend policy, net cash and growth prospects. - Medium-term target price 197p, +55% upside. Our medium-term target price is based on a -10% discount to the broad peer group average 2024E P/E. The discount reflects the impact of the larger, highly rated renewals and infrastructure operators within peers. We do not expect construction market conditions to significantly improve in the short term and expect the share price to be driven by increasing confidence in TClarke’s revenue, margin and cash flow forecasts as the year progresses" |
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 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 (‘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 14/6/2021 08:18 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... |
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