Future workload jumps 17% to over 拢420m
Listed M&E contractor T Clarke said this morning its order book has climbed to more than 拢420m as the firm confirmed it was on target to hit the year-end numbers outlined in a trading update at the start of last month.
The firm said its forward order book was up 17% to 拢422m, with revenue of 拢257m already secured for next year against an equivalent of 拢232m for this time in 2019.
T Clarke said it was on course for margins of 3% in the second half of the year after the impact of covid-19 sent it to a pre-tax loss of 拢1.5m in the first half from a 拢4.5m pre-tax profit last time on revenue down 38% to 拢106m.
But it said trading has improved considerably from the second quarter and said it was expecting revenue for the year of around 拢240m and underlying profit of approximately 拢6m 鈥� although this is considerably down on the 拢335m turnover it posted last year where underlying profit stood at 拢9.2m.
The firm said it was helping with the rollout of dozens of covid-19 testing stations across the UK which are typically built with 24 hours.
Earlier this year, the firm said it spent 拢3.6m completing a restructuring because of the covid crisis which has seen 80 jobs go at the business, around 6% of its 1,400-strong workforce.
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