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
  2.75 1.8% 155.75 25,560 16:35:21
Bid Price Offer Price High Price Low Price Open Price
153.50 158.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 327.10 7.80 14.99 10.4 68
Last Trade Time Trade Type Trade Size Trade Price Currency
16:28:08 O 4,600 155.592 GBX

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Tclarke Daily Update: Tclarke Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker CTO. The last closing price for Tclarke was 153p.
Tclarke Plc has a 4 week average price of 140p and a 12 week average price of 140p.
The 1 year high share price is 185p while the 1 year low share price is currently 114p.
There are currently 43,947,033 shares in issue and the average daily traded volume is 47,958 shares. The market capitalisation of Tclarke Plc is £68,447,503.90.
ansc: CTO presenting at the Mello Investor Conference this morning, does the spike in the share price indicate that there was good news in the wind for investors?
tole: (LON:CTO) – data centres business growing fastThis group is a nationwide specialist in electrical and engineering services. It covers span design, installation, commissioning, and maintenance. It provides its services to the UK construction sector.At Wednesday's AGM, investors were told that trading for the 2022 has started strongly, with its orders flowing in very well.On 30 April its high-quality order book stood at a record high of £585m, which compares with the end 2021 figure of £472m.It would appear the growth of its data centre business, a relatively new activity for the group, has been building up impressively. It is expected to account for a third of the group's business by the end of this current year. More growth from this side can be expected.Market estimates for the group this year centre around £410m of sales and an EBITDA of £13.9m, pumping earnings up to 21p per share.Those estimates compare with the current 153.5p share price for this £666m capitalised group.The group's interim results, to end June, will be announced on 14 July.Its shares peaked at 186p late last September, a level at which I consider they will be trading very soon.
cwa1: Snippet from Cenkos this morning:- Valuation: The share price trades closer to its YTD ‘high’ of 167p than its ‘low’ of 118p, where it stood just prior to FY21 results which scored big wins on dividend and order book. However, the rating is still attractive in both actual and peer relative terms and does not reflect the transformation in the group’s core strength and reliability of delivery over recent years. On unchanged forecasts our model ‘fair value’ remains 182p and at the current 148p the 2023E EV/EBITDA of 3.2x, or 4.7x including the Pensions deficit, PE of c6x and over 4x covered 3.6% yield offers attractive core value. Add to this an improving cash conversion, net cash per share (24p) and FCF yield (c13%) by 2023E and the investment case builds stronger still. BUY
cwa1: Very satisfactory:- 11 May 2022 TClarke plc AGM AND TRADING UPDATE DATA CENTRES FUEL GROWTH IN REVENUES Ahead of the Annual General Meeting, being held today at 10.00am at 200 Aldersgate, London EC1A 4HD, TClarke plc ("TClarke" or the "Group"), the Building Services Group, issues a Trading Update covering the period from 1 January 2022 to date. The Group is pleased to report that trading in the early months of the 2022 nancial year has continued to be strong and the Group is very well placed to deliver year two of its three-year plan to achieve annual revenues of GBP500m. The Board remains very con dent that revenues and pro ts for the year will be in line with market expectations. For the year ending 31 December 2022, market expectations are forecast to be revenues of GBP410 million; EBITDA of GBP13.9 million; operating pro t (EBIT) of GBP12 million and earnings per share (EPS) of 21p. The Group is pleased with the continuing high quality of its forward order book, which as at 30 April 2022 is at a record high of GBP585 million (2021: GBP472 million). The Group is maintaining historically high levels of orders across our core markets, with a strong pipeline of further potential opportunities across all of our target market sectors. As always, we focus on projects and schemes where clients have indicated that they are committed to proceeding. The growth in order book is being fuelled most materially by data centres which are expected to account for one third of the Group's business by year end. The data centre market continues to be extremely buoyant and we expect the significant growth in this market to continue in the medium term. Overall, the outlook for TClarke continues to be very positive and we look forward to reporting in due course on progress made during the remainder of the year. The Group confirms that it will publish its Half Year results for the six months ending 30 June 2022 on 14 July 2022.
thorpematt: yf23_1 Yes it is very misleading. The term net debt is not really what it is in my view. What has always been quite useful on the ADVFN balance sheets is the pictorial view. The LT debt not the current liabilities are in my book what to look out for . As per the dark red block, this is modest and when balanced against the yellow of the cash you can get a quick feel for the levels of a net calculation. The sector comparison is also quite easy as a visual aid: - hTtps:// As far as I can tell CTO has a small net cash situation at year end. (about £4m) One other way of seeing what ADVFN thinks is the net position, is to view the EV. This is under the solvency ratios section and has £71m. If you compare that to the Market cap, they are actually saying there is a net debt of £7m ish. In terms of long term leases these are neglible. The PD is worth a footnote. This is described in the annual report thus: - "Defined Benefit Pension Scheme Obligations The most-recent formal actuarial valuation of the Group's defined benefit pension scheme at 31st December 2018 showed a deficit of £24.9m, representing a funding level of 59%. Following the valuation the Group committed to a deficit reduction plan to eliminate the deficit over a 12 year period, and throughout 2021 it continued to make additional contributions at the agreed rate of £1.5m per annum. The Group also continues to provide security to the pension scheme in the form of a charge over property assets up to a combined market value of £3.1m. A new formal funding valuation is being carried out as at 31 December 2021 and the results will be reported in next year's Annual Report & Financial Statements."
theoldcodger: yf23_1 I'm not sure where ADVFN get their £122m debt from, but the consolidated statement of financial position as at 31st December 2021 (included in the final results announced on 9 March 2022) shows net current assets of £9.3m (total current assets of £125.1m less total current liabilities of £115.8m), with total net assets (and therefore total equity) of £26.5m (although that does include £25.3m of intangible assets). These figures are easily accessible on T Clarke's own or the London Stock Exchange's websites. In comparison to many in the sector, I'd regard CTO as well capitalized, although that by itself is not necessarily a reason to buy. Good luck, TOC
tole: – bringing a building into life pays off for this undervalued groupBy Mark Watson-Mitchell 14 March 2022 4 mins. to readTClarke – bringing a building into life pays off for this undervalued groupIt is a fair bet that you may never have heard of TClarke (LON:CTO).This company is over 130 years old and has offices and operating centres across the UK.To developers and construction companies, however, it is a very well-known, respected and important name.The businessFrom St Austell to Falkirk this building services company plies its trade. From its four main regional operating areas and its 19 offices, the company has an excellent national coverage.It spreads five main market sectors – infrastructure; residential; technologies; mechanical and electrical contracting; and finally, facilities management.It is involved in providing building services and solutions, not for the shell of a building or the internal fabric and decoration, but instead for practically everything else.Its areas of expertise are in powering a building, heating it, lighting it and, importantly, making it intelligent.Effectively TClarke 'brings a building to life'.The company within its M&E contracting business has capabilities in sectors, including commercial offices, retail, education, healthcare, financial services and media.Over the last few years, it has been involved in a number of UK Data Centre projects. It is now widening its offer into the European market, where such projects can have overall £30m-£40m values, with some topping £100m.Bringing the building to life with power, services and systemsA building has a shell and a core that keep the weather out and keep it standing. It also has an internal fabric and decoration. Everything else in between – all the things that power it, heat it, light it and make it intelligent – are the group's area of expertise.Power is distributed and controlled.Services – including heating, lighting, ventilation, water, waste and their networks and controls.Data networks are made resilient and secure.Internet services and coverage are delivered throughout the space.Alarm, security and safety systems are integrated and controlled.Building Management Systems are integrated along with all the IP addressable components on the system. Data and control of the building is brought together within advanced graphic user interfaces that make them easy to use.Last week's finalsLast Wednesday the group declared its final results for the year to end December 2021.It reported a 41% increase in its revenues to £327.1m (£231.9m). an adjusted pre-tax profit up 53% at £7.8m (£5.1m), generating a 46% improvement in earnings of 14.99p per share (10.29p) easily covering a 10% increased dividend of 4.85p (4.4p) per share.A split down of last year's £327.1m revenue identifies that M&E contracting represented just over a third of the business at 35.7%, with infrastructure 24.1%, residential and hotels at nearly 17.1%, technologies 15.1%, and facilities management making up the 7.9% balance.At the year end the group's order book stood at a record £534m (£456m).The group's CEO, Mark Lawrence, stated that"The business is in excellent shape having finished 2021 on a high and delivering the first year of our £500m revenue growth plan, winning a wide range of work across our chosen market sectors. This is clearly reflected in the strength of our order book which again has reached a new record high."He goes on to confidently declare that:"Our order book will translate to record revenues; TClarke can offer our clients the widest possible solutions from a single contractor, utilising our resources so that they are assured we have the ability to deliver. That's why we believe TClarke remains the contractor of choice for so many and we remain focused on maintaining our market leading position.We start 2022 in excellent shape and well placed to deliver a strong future performance."The group's growth strategyThe company's growth strategy is focused on maintaining and developing its core markets whilst significantly expanding its data centre business.It is also undertaking more large projects outside of London, such as those being delivered for a major financial institution by its Manchester business. As well it will be expanding both its healthcare offering and its energy efficient smart building solutions.Through successful targeted tendering and operating efficiency it is focused upon its margin sustainability at 3% and better.The EquityThere are some 43.92m shares in issue.Large holders include Regent Gas Holdings (16.9%), Interactive Investor (7.83%), Heritage Capital Management (5.74%), Hargreaves Lansdown Stockbrokers (5.32%), Barclays Bank, Private Banking (4.60%), Walker Crips Investment Management (3.11%), TClarke Employee Share Ownership Trust (2.52%), Cavendish Asset Management (2.01%), Hargreaves Lansdown Asset Management (1.99%), and finally Chelverton Asset Management (1.37%).Brokers ViewAnalyst Kevin Cammack, at the group's brokers Cenkos Securities, estimates that for the current year a £410m turnover is possible, upon which the company could make £11m of adjusted pre-tax profits, worth 21.1p per share in earnings, and a 5.1p per share dividend.For next year his estimates are for £500m turnover, £13.5m profits, 24.6p earnings and a 5.3p per share dividend.Totally understandable why he rates the shares as a 'buy'My ViewOn the face of it this may look to be a boring company – but I would totally disagree with that impression.It is a good solid business, only valued at around £74m, it is ungeared with some £7.3m net cash and that should increase to over £10m by this year-end.Furthermore, it also has unused banking facilities of £25m.In the last year the shares have been up to 186p, I see them going back up there again in 2022.Its shares at 147p, looking for a current year yield of some 3.5%, and trading on only 6.9 times earnings – are a 'no-brainer'.
zingerburger: Building services contractor TClarke (CTO:133p) is primed to not only deliver a bumper second-half trading performance, but the group is converting its pipeline at such a rate that the earnings risk looks heavily skewed to the upside for next year, and beyond. Buoyed by a record order book of £503m, of which £200m is for delivery in the second half with a further £250m slated for 2022, and a bid pipeline exceeding £1bn, chief executive Mark Lawrence sees potential for TClarke to exit this year at a revenue run-rate of £450m. Moreover, he also revealed during our results call that one of the group’s three large data centre projects (aggregate value of £110m) could bring in an extra £30-40m of revenue by the time it completes in the first half of next year. Finance director Trevor Mitchell adds that TClarke’s “long pipeline of data centre projects is worth billions and the company is actively bidding for £300m of contracts for delivery in 2022/23.” TClarke’s environmental credentials are serving it well as property developers look to install smart technology into their buildings that can connect a building’s control systems via a ‘single pane’ to reduce energy consumption, cut operational costs, lower carbon footprint, and improve return on investment. The group has 18 such projects in its burgeoning order book. The uptick in demand for its specialist services is also being seen country wide. Lawrence highlights infrastructure (schools and hospitals), engineering services, offices and hotels as the sectors driving demand. Factoring in a second half weighting, analysts at house broker Cenkos Securities expect full-year pre-tax profit to rise from £5.1m to £8m on 46 per cent higher revenue of £340m, and are pencilling in a step change in profits to £11m on revenue of £380m in 2022, a forecast that is increasingly looking conservative. On this basis, expect earnings per share (EPS) to rise by 50 per cent to 15.5p this year, and increase by almost 40 per cent to 21.2p in 2022. Shareholders can also bank on pay-outs of 4.4p and 4.7p, respectively, implying the shares are priced on a forward price/earnings (PE) ratio of 6.3 for 2022 and offer a prospective dividend yield of 3.5 per cent. That’s an attractive rating for a well-funded business that is riding a UK investment boom and one that has substance. To put the undervaluation into perspective, the average PE ratio for peers is 9.7 based on 2022 forecasts. Strong buy.
thorpematt: igoe104, I suspect that during that time you will have been witness to some strong progress from the company with respects to : bottom-line margin-growth consolidation and cost-cutting top line sales growth In addition what I expect to continue to see is structural change within the marketplace which favours CTO i.e more complexity in buildng services from a technical perspective (Data, passivhaus, DALI lighting, transition to new heating technoligies etc). In many regards I see less competition at the top end (size-wise) for CTO than there was in the past. End clients and contractors alike seem to be increasingly prone to nominating CTO as preferred bidder status as a result of a lack of strong competition as well as a consistent and proven track record of success from CTO. In contracting, there are no certainties when it comes to projected earnings for indefinite periods of time, but for me, CTO's progress and present tailwinds mean that this stock has a greater probability of sucess than its fPER warrants (particulrly if we compare it to the wider market PER if above 17 times earnings and if we consider bond yields as an alternative). Like you, I am a happy to have this one in the portfolio.
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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