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Mon June 21 2021

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More work means more late payers for Tommy Clarke

19 Nov 13 Building services contractor T Clarke Group has seen its order book grow 12% in just the past three months but is finding increasing problems getting paid.

In a trading update today the company said: “Current trading continues to meet the board's expectations. However, we are finding it increasingly challenging to agree final accounts promptly. The timing of final account payments will determine our year end cash position, but in the meantime our balance sheet strength enables us to take a robust approach to contract negotiations.”

Since August T Clarke’s order book has grown from £225m to £252m. Recent M&E contract awards include the refurbishment of Bush House, the former BBC World Service HQ in London, and Peterborough Football Club’s Moy's End Stand project.

The board added:” Looking forward, there are a significant number of quality opportunities across our target markets. Throughout the group current tendering activities remain high with a number of schemes due for construction commencing in 2014.

“As others have reported, the UK construction market has been a challenging environment in which to win and deliver work, but the Board is cautiously optimistic that from the latter part of 2014, we will finally begin to see margin improvements within the business.”

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MPU

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