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T. Clarke profits down 20pc but increased tendering activity lifts hopes

Several recent commercial project wins in London have boosted T. Clarke’s order book to an encouraging £220m, up £60m on December 2009, despite reporting a fall in profits.

As part of its results for the six months to 30th June the firm reported high tendering activity and said it was particularly encouraged by major commercial schemes in London being brought to market for construction during 2011 for completion in 2013.

The firm has recently secured a number of key projects in London, such as the re-development of Victoria Station, the Park House development of Oxford Street and the fit out project for N.M. Rothschild in the city.

Pre-tax profit fell from £4.0m to £3.2m and revenue dropped 8 per cent from £93.2m to £85.7m.

Uncertainty over the scale and exactly how the Government cuts will affect the construction sector as a whole isn’t yet known but additional pressures on margins are expected in coming months due to increased competition from rivals who previously serviced the public sector, the firm said.

Chief executive Mark Lawrence said: “I am pleased to report that the Group has maintained its market share in the period and has secured some of the most significant projects available despite a continuing tough and challenging environment.

“We have continued with our strategy to broaden the group activities.  Building on the recent acquisition of D&S Engineering Facilities in March, we announced on 25 August that we had acquired DGR Mechanical Services. We welcome the team at DGR to the Group and look forward to a prosperous future together and being able to offer our clients an even broader range of services.”