Firm says income close to pre-pandemic level as profit rebounds
A rise in tech work had pushed T Clarke鈥檚 order book over the 拢500m mark for the first time as the M&E contractor said it was on course to hit its turnover targets for the next two years.
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 a trading update this morning, the firm 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 income for 2021 will be around 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.
The firm added that pre-tax profit will be close to 拢8m, from 拢1.2m the year before, although still around 拢1m 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.
T Clarke will release its 2021 results on 9 March.
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