T Clarke issues positive trading statement, three months after profit warning
Market conditions for M&E contractors have improved over the last three months, T Clarke has said.
In a trading update to investors this morning, T Clarke said it traded in line with market expectations in the period since it .
T Clarke said market conditions had been boosted by 鈥淟ondon opportunities in particular鈥� and that the firm鈥檚 recent contract wins, , 鈥渦nderpin the confidence which we see returning to our markets鈥�.
T Clarke said it had experienced a 鈥渃hallenging year鈥�, adding that it is keeping 鈥渁 particular focus on closing out projects let during the recession to secure acceptable returns.鈥�
However, the contractor confirmed it ended the year with an improved cash position up to 拢4m from 拢1m at the end of 2013.
The company said the improvement is reflective of its normal cash collection cycle, but it also views the performance as a sign of positive trends in its underlying performance.
The group also confirmed that its order book exceeded 拢300m, up from 拢250m at the end of 2013.
T Clarke will report preliminary full-year results for the year to 31 December 2014 in March.
T Clarke expects to make underlying pre-tax profit for the year of between 拢0.5m and 拢1m, as announced in October.
Shares for T Clarke were up 7.51% to 68.54 pence on Thursday morning.
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