AGM and Trading Update : Data Centres fuel growth in revenues
11/5/22 : Ahead of the Annual General Meeting, being held today at 10.00am at 200 Aldersgate, London EC1A 4HD, TClarke plc, the Building Services Group, issues a Trading Update covering the period from 1 January 2022 to date.
The Group is pleased to report that trading in the early months of the 2022 financial year has continued to be strong and the Group is very well placed to deliver year two of its three-year plan to achieve annual revenues of £500m. The Board remains very confident that revenues and profits for the year will be in line with marketexpectations.
For the year ending 31 December 2022, market expectations are forecast to be revenues of £410 million; EBITDA of £13.9 million; operating profit (EBIT) of £12 million and earnings per share (EPS) of 21p.
The Group is pleased with the continuing high quality of its forward order book, which as at 30 April 2022 is at a record high of £585 million (2021: £472 million).
The Group is maintaining historically high levels of orders across our core markets, with a strong pipeline of further potential opportunities across all of our target market sectors. As always, we focus on projects and schemes where clients have indicated that they are committed to proceeding with.
The growth in order book is being fuelled most materially by data centres which are expected to account for one third of the Group’s business by year end. The data centre market continues to be extremely buoyant and we expect the significant growth in this market to continue in the medium term.
Overall, the outlook for TClarke continues to be very positive and we look forward to reporting in due course on progress made during the remainder of the year.
The Group confirms that it will publish its Half Year results for the six months ending 30 June 2022 on 14 July 2022.
11th May 2022
For further information contact:
Group Chief Executive Trevor Mitchell Finance Director
Tel: 020 7997 7400 www.tclarke.co.uk
Cenkos Securities plc (Corporate Broker) Ben Jeynes (Corporate Finance)
Alex Pollen (Sales) Tel: 020 7397 8900 www.cenkos.com
RMS Partners Simon Courtenay Tel: 020 3735 6551