T CLARKE CONFIDENT AS PRE-TAX PROFIT RISES 39% - [Trading News]

T. Clarke plc has announced its interim results for the six months to 30 June 2008.

• Group revenue up 13% to £109m (2007: 96.5m)
• Pre-tax profits up 39% to £5.4m (2007: £3.9m)
• Earnings per share up 45.5% to 9.53p (2007: 6.55p)
• Group order book at £230m (2007: £205m)
• Net cash up £10m from year end
• Strong improvement in regional profits
• London business robust
• Interim dividend up 8.97% to 4.25p

Major completions include:

• 201 Bishopsgate and Broadgate Tower, London
• Associated Press - The Interchange, Camden Lock
• Golden Jubilee National Hospital, Glasgow
• St. Brendan's College, Bristol
• ATS Kilmarnock
• Pavillion Building, Wadebridge Showground
• Lindholme Prison.

Current projects include:

• Westfield, White City, London
• Ropemaker, London
• Regents Place, London
• DLR 3-car upgrade, London
• BP2 Canary Wharf
• CSA HQ Falkirk
• Cambridge Regional College
• Excelsior Academy, Newcastle
• KIA Manston Airport.

Major projects won include:

• N0204 office development Greenwich
• One New Change, St Paul's
• Deutsche Bank, London
• The Fusion Housing Development, Edinburgh
• 3 Waitrose Stores
• MOD Tidworth Garrison
• Trewarthenick House Estate, Cornwall
• Harrogate Library.

Pat Stanborough, Chief Executive commented:

"This has been a period of significant progress for the Group. Despite the current backdrop of uncertainty in the financial markets, all our core operations are performing well. Our plan to diversify the business away from a dependence on the commercial property development sector has gone well and we have a steady flow of work across all the regions we operate in."

"Our forward order book is in excellent shape with a strong mix of work due for completion both in the current year and beyond.  We have the skills and the reputation to continue to deliver value for our shareholders."

"Looking forward, the future for the Group remains solid. We have a first class team and we are regarded as one of the best operators in the sector. We have increased the dividend by 9% and our cash balance remains strong at £19.3m. We remain vigilent to the challenges we face, but we approach the future with confidence and enthusiasm." 

For the full announcement and to download the Analyst Pack, click the link to the Investors page.