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In the year to 31st December 2023 TClarke grew revenue by 15% to £491m (2022: £426m). While pre-tax profit was down 26% at £7.6m (2022: £10.3m), other indicators were much more positive.
Net cash at year-end stood at £19.3m, up from £7.5m a year before, and the forward order book was up 70% at £943m (2022: £555m)
During the year the business picked up orders worth £346m for data centres, up from £88m in 2022.
“As the data centre industry approaches an 'iPhone moment', with the adoption of AI accelerating demand and need for data centre services, we see substantial opportunities in the years ahead,” chief executive Mark Lawrence.
While TClarke fell narrowly short of its £500m revenue goal and its 1.9% operating margin is below its 3% target, the company has broadly hit its growth targets.
Mark Lawrence said: "Initiated in March 2021, our ambitious journey aimed to double our revenues through organic expansion. It is very pleasing to report that in 2023 we successfully achieved these growth plans.”
He added: “Our growth reflects the high quality of our operations and the talent and commitment of our people, supply chain partners and the ongoing support of our clients.
“The group boasts a robust forward order book comprising top-tier projects in our target sectors, underpinned by a strong balance sheet with our net assets having increased by 38% compared to 2022, reflecting our financial strength.
“Looking forward, we are poised to maintain our progress in our targeted markets, positioning us favourably to achieve our growth plans for 2024 and beyond."
Another sign that the company continues to look to the future is that its apprentices now number 247 (2022: 210) making up 18% of workforce.
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