Tclarke (CTO)

Sector:

Construction and Building Materials

Index:

FTSE Fledgling

99.45p
   
  • Change Today:
      0.100p
  • 52 Week High: 137.00
  • 52 Week Low: 73.00
  • Currency: UK Pounds
  • Shares Issued: 43.05m
  • Volume: 40,072
  • Market Cap: £42.82m
  • RiskGrade: 277

TClarke upbeat on 2016, but warns of inflationary pressures in 2017

By Andrew Schonberg

Date: Tuesday 28 Mar 2017

LONDON (ShareCast) - (ShareCast News) - TClarke reports an exceptionally good year in 2016, but notes a "significant fraud" at a subsidiary and warns of inflationary pressures possibly holding back margin improvement in 2017
At 14:48 GMT, shares in building services contractor TClarke were down 5.68% to 81p each.

Chief executive Mark Lawrence said he was delighted with the results, commenting that the business was clearly making good progress.

"Our focus on improving performance and margins throughout the Group continues to show through," he added.

He said it was equally pleasing that TClarke had been awarded further contract wins that meant its forward order book at the end of February stood at £350m, a new record.

"In addition, to support our prefabrication capabilities we will shortly be opening a brand new 26,000 Sq Ft facility at Stansted, Essex," said Lawrence.

"The outlook for the future remains positive."

The company, however, was disappointed to have discovered a significant fraud at one of its subsidiary companies during the year.

An independent and comprehensive review of internal controls and procedures was commissioned immediately, with recommendations being implemented.

"The board is satisfied that the fraud was limited to the subsidiary company in question and that the full extent of the fraud has been identified. Legal proceedings are ongoing."

Meantime, TClarke posted an improved full-year pre-tax profit of £2.9m, up from a re-presented profit of £2.8m a year previous.

The company's revenue rose to £278.6m, from £242.4m. Total dividend was 3.2p a share, a slight rise from 3.1p a year ago.

Looking ahead, chairman Iain McCuster said 2016 was an exceptionally good year, both in terms of underlying trading performance and cash position at year's end.

"Whilst we are focused on delivering sustained margin improvement over the long term, at this early stage of the current year we cannot ignore inflationary pressures which may hold back further margin improvement in 2017.

"Nevertheless, the board is confident that the Group is well placed to meet market expectations for the year ahead."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tclarke Market Data

Currency UK Pounds
Share Price 99.45p
Change Today 0.100p
% Change 0.10 %
52 Week High 137.00
52 Week Low 73.00
Volume 40,072
Shares Issued 43.05m
Market Cap £42.82m
RiskGrade 277

Tclarke Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.37% above the market average67.37% above the market average67.37% above the market average67.37% above the market average67.37% above the market average
47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average47.37% above the sector average
Price Trend
18.63% above the market average18.63% above the market average18.63% above the market average18.63% above the market average18.63% above the market average
17.95% above the sector average17.95% above the sector average17.95% above the sector average17.95% above the sector average17.95% above the sector average
Income
82.78% above the market average82.78% above the market average82.78% above the market average82.78% above the market average82.78% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Growth
39.76% above the market average39.76% above the market average39.76% above the market average39.76% above the market average39.76% above the market average
5.26% above the sector average5.26% above the sector average5.26% above the sector average5.26% above the sector average5.26% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Tclarke Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Jun-20 05-Sep-19
Paid 17-Jul-20 04-Oct-19
Amount 3.65p 0.75p

Trades for 29-May-2020

Time Volume / Share Price
16:19 5,516 @ 98.71p
15:53 180 @ 98.71p
13:28 1,039 @ 98.71p
11:15 1,000 @ 100.79p
10:53 489 @ 100.79p

Tclarke Key Personnel

CEO Mark Lawrence
Finance Director Trevor Mitchell

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