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TClarke Reports Decline in First-Half Profit, Expects Strong Second-Half Results

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TClarke, the U.K. building-services group, has announced that its pretax profit decreased in the first half of 2023, while revenue remained flat compared to the previous year. Despite this, the company remains confident in achieving its full-year revenue growth target, thanks to expected strong performance in the second half.

In the first half-year, TClarke’s pretax profit reached £4.8 million, down from £5.5 million in the same period of 2022. The company’s revenue saw a slight increase to £207 million, up from £206 million. However, earnings before interest and taxes dropped to £5.7 million from £6.0 million.

Despite these figures, the company stated that its performance aligns with expectations. Looking ahead, TClarke reiterates its forecast of significant revenue growth in the second half, which will enable the company to meet its ambitious goal of reaching £500 million in revenue. This represents a substantial increase from the £426 million achieved in 2022. Furthermore, TClarke expects this growth trajectory to continue in 2024 and 2025, with targeted revenues of £600 million and £650 million, respectively.

The company particularly highlighted its strong performance in London. As of June 30, TClarke’s order book stands at £781 million, showing significant progress compared to £586 million on June 30, 2022.

Additionally, TClarke’s board has declared an interim dividend of 1.375 pence per share, marking an increase from 1.250 pence per share in the previous year.

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