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19 November 2007: T.Clarke Reports Positive Trading

T. Clarke plc (T.Clarke) announces a trading update covering trading for the second half of 2007

Since announcing the interim results in August, trading in the Group's core London business and its regional subsidiaries has been strong. The current order book has grown with £50 million of new project wins since August. T. Clarke has also been awarded preferred bidder status on several new important projects. The work flow for 2008 is solid and over £150 million of the Group's current order book is scheduled for completion during 2008.

The Group has also made good progress to improve the management of its regional subsidiaries. It has streamlined the reporting structure and has plans to install a new integrated IT system across the Group that is designed specifically for the construction industry. The Board is confident that the legacy issues that have affected trading in a small number of the regional businesses have now been resolved. All the operating businesses are reporting that trading conditions in their markets are buoyant and that the performance they are delivering is at an encouraging margin. The Board is confident about the prospects for the Group. It is on track to meet current market expectations for its financial performance for the full year, including the dividend that will be paid to shareholders.

Board Changes - Appointment of Independent Director

The Board is also today announcing the appointment of Bob Campbell as an Independent Non-Executive Director, with effect from 1 January 2008. Bob has a first class knowledge of the construction sector. He was previously Managing Director of Waterman Group PLC, one of the UK's leading multidisciplinary engineering and environmental consultancies. He served as Managing Director from 1988 until stepping down from full time responsibilities in 2007. Under Bob's stewardship, Waterman developed into an international business, integrated a number of acquisitions and grew annual turnover from £11 million to over £100 million. T. Clarke is planning to further strengthen the composition of the Board and is seeking to appoint an additional independent director during the course of 2008.

Pat Stanborough, Chief Executive commented,

"We are pleased that the Group is making encouraging progress in both our core London business and our regional subsidiaries. We have created a platform of quality businesses with the capability to deliver large complex projects to an extremely high standard. We are working on a range of exciting projects
throughout the UK, including some of the largest projects in the country.

We are delighted that Bob Campbell is joining the Board. He has an excellent knowledge of the construction sector having built up and run a very successful quoted consultancy business. I am sure that we will benefit from his wise counsel in the future.

" At this stage, we are on target to meet the market expectations for the year. We are pleased that we have continued to grow the order book and we are looking forward with confidence."


 

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