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T Clarke grows order book 30%

5 Jul 10 Electrical contractor T Clarke has grown its order book by almost 30% over the 12 months, the firm said in a trading update after the end of the six-month period to 30 June 2010.

Electrical contractor T Clarke has grown its order book by almost 30% over the 12 months, the firm said in a trading update after the end of the six-month period to 30 June 2010.

The firm said its business “continues to trade in line with expectations” and its forward order book stands at £220m, compared to £170m a year ago.

In its full year results for 2009, T Clarke reported turnover down by 24% to £178m and profit reduced by almost half to £6.8m.

Earlier in the year, the firm announced the acquisition of Accrington-based D&S Engineering Facilities, and said it intends to serve the north west region from a single division, D&S, in Lancashire. As a result, it will “wind down” another smaller operation, J.J. Cross, based in Preston.

T Clarke said it has “maintained its positive cash position”, which stood at £23.2m at the end of 2009.

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The trading statement concluded: “The main issue the Group faces is the timing and strength of the recovery in our markets. We operate in highly competitive markets where margins continue to be placed under pressure and the final award of a project in this current climate can be protracted.

“Our strategy is to focus on existing relationships with clients and contractors whose developments and projects are not affected by current government spending plans, whilst seeking out new and further opportunities in the markets we do not currently fully serve.

“Whilst remaining cautious, our outlook for the remainder of 2010 remains unchanged and the Board continues to be confident in the long term strengths and resilience of the business.”

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