TClarke plc today released their final results for the year ending 31st December 2016. At the same time, the firm announced a series of major project wins, taking the forward order book at end February 2017 to a record £350m.
New project wins include;
Mark Lawrence, Chief Executive commented:
"We are delighted with the results that we are presenting today. Our business is clearly making good progress.
"Our focus on improving performance and margins throughout the Group continues to show through. Equally pleasing is that we have been awarded further contract wins which means that our forward order book as at the end of February 2017 now stands at £350m, a new record for TClarke. In addition, to support our prefabrication capabilities we will shortly be opening a brand new 26,000 Sq Ft facility at Stansted, Essex. The move will provide enhanced facilities for our people, while achieving improved quality and efficiency plus considerably extended capabilities in our prefabrication and manufacturing activities.
"The outlook for the future remains positive.”
Chief Executive Officer’s Review
Our people have put in an excellent performance in 2016.
The big story behind the record turnover is the quality of the jobs delivered and the order book that has been replenished so strongly this year.
We have seen a series of major projects be awarded to the Group across all our regions, signalling our valuable reputation, our capabilities and our ability to deliver.
TClarke is positioned for further confident and controlled growth with a clear and shared sense of value and how to create it.
Our business infrastructure is solid
The Group is shaped correctly and resourced nationwide for an agile response to market opportunities. Our people are clear about our strategies and their roles in achieving them. We have set parameters for evaluating opportunities and targeting those that suit our skills and our growth journey. There is always more to do, but when you add this to TClarke’s exceptional culture of delivery and operational control, together with the strong sense of values, tradition and pride that is ingrained within ‘The TClarke Way’, we have a strong base to build on going forward.
Major projects won and delivered in our core London M&E business
It has been a particularly strong year for our London business. Our vision to grow from a famous electrical contractor into a true M&E contractor, known equally for both, has been realised. Delivery of major mechanical and M&E projects and the win of two towers at the enormous Southbank Tower project showed that we are a major player in the M&E market. This transforms the scale of our potential markets going forward - effectively more than doubling them. Our success in securing the even larger 22 Bishopsgate project will be equally transformative, providing us with a platform to lead in integrated building services, with major technology advances that have potentially vast market applications.
Major projects won and delivered across our regions
Success in London has been matched across our regions. Our vision for our nationwide offices has been to make a decisive shift from siloed local teams, delivering high quality small scale projects, to a series of regional operations targeting large scale, higher value projects, collaborating to maximise the value of their resources and building the TClarke brand. In 2016, TClarke’s regional teams won a very wide range of large scale projects; more than at any time in our history. We have built new strategic partnerships, expanded existing relationships, entered new sectors, expanded into new areas and combined our operations in new ways.
Innovation and investment in the career paths of our people
We launched the TClarke Academy in 2016, as a comprehensive internal training operation aimed at providing a clear route to the top of the organization, giving everyone, whether they be in an engineering, technical or support discipline, career advancement opportunities. At TClarke it is expected for an apprentice to aim for the top. I was an apprentice here and so were most of my senior executive team, so our Training Academy is something that we, as leaders, believe in and are personally committed to driving - and indeed we deliver modules ourselves. In a year when we again took on a far larger number of apprentices than the industry average, the Group retained a far higher percentage of staff than the industry average and built our resource of directly employed people with quality people - the Academy is a further mark of our intent to keep offering the best M&E resource in the UK.
Safety remains our paramount concern
We take enormous pride in every site safety award won by our people and, in 2016, we won more than ever before. The total number of those awards is not significant but the culture that earned them is. I am personally proud of the work our safety establishment carries out to further embed that culture and to keep driving standards forward. We can never rest or become complacent regarding health and safety - we need to keep investing in this area as safety is paramount to our business.
Chief Executive Officer
28th March 2017
Important note : for the full statement go to the regulatory news area of the investor section in this website