Profit and income jump at M&E specialist
A rise in tech work helped send revenue and profit at T Clarke north last year after its figures for 2020 were wrecked by the pandemic.
The firm鈥檚 order book stood at a record 拢534m at the end of last year, up from 拢456m the year before, with tech work accounting for around 25% of that figure, a rise from 10%.
In January, the M&E specialist said income this year would top 拢400m and will go through the 拢500m barrier in 2023.
New work includes data centres, more regional jobs, particularly in Manchester, and increased health work.
It said it is currently working on five data centres worth a combined 拢150m to the business with a potential 拢75m-worth of further work being negotiated. It said it was tracking around 拢900m of bidding opportunities in the sector.
Income last year was 拢327m 鈥� close to its pre-pandemic number of 拢335m 鈥� and a 41% rise on 2020鈥檚 covid-hit 拢232m. Pre-tax profit was 拢7.8m, up from 拢1.2m the year before, although still below the 拢9m posted in 2019.
It added that net cash at the year-end had nearly halved to 拢5.3m which T Clarke said was down to the firm bankrolling the expansion of its business itself and changes to the VAT regime.
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