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T Clarke sees profits soar

Electrical contractor T Clarke saw profits rise 86 per cent rise in 2008 with sales up 15 per cent, but warned conditions were much tougher this year.

T Clarke said pre-tax profit for the year ended 31 December 2008 totalled £15.2 million up from £8.2 million the previous year.

But, this was before taking into account a £1.8 million goodwill impairment.

Meanwhile, revenue increased 15 per cent to £223.7 million.

The firm’s order book dropped to £160 million compared with £215 million the previous year, but T Clarke said it was currently under negotiations for a further £30 million of contracts.

T Clarke chief executive Pat Stanborough said: “While market conditions remain challenging and visibility on future workload is more limited now than it has been for some time, we continue to further diversify our business both in terms of sector and geography, so that we are not overly dependent on any one sector.  

'We anticipate 2009 revenues to be at more modest levels, however our reputation for quality service and our strong balance sheet should position us well to take advantage of opportunities as they arise.'

T Clarke has been working with contractor Sir Robert McAlpine as preferred bidder towards agreeing a bid for the Olympic Stadium for the London 2012 games.