TClarke has published a trading update – reporting huge revenue and healthy profits.
The specialist engineering company, registered in London, said the 30% increase in turnover was due to good business in the Technologies sector.
In London, in 2021, for instance, revenue in the sector was £48.5 million. For the year ended 31 December 2022, it was £136.4 million.
Highlights
- Revenue: £426 million (FY2021: £327 million
- Gross profit: £48.3 million (FY2021: £39.8 million)
- Operating profit: £16.2 million (FY2021: £10.5 million)
- Profit before tax: £16.3 million (FY2021: £10.7 million)
- Profit for the year: £13.7 million (FY2021: £8.5 million)
The Group’s cash position (at 31 December 2022) was £13 million (FY2021: £6.6 million).
Net assets and total equity position for the company was £26.5 million (FY2021: £20.7 million).
An interim dividend of £8 million was paid during the year (FY2021: £6 million) – however directors did not recommend payment of a final dividend.
“In 2022, the company has again continued to grow and deliver excellent results,” said the Group. “Our record revenue has taken a significant step towards achieving our near-term target of £500 million annual revenue.”
Adding: “The company has a healthy forward order book and continues to expand its core business while also looking to enhance its capabilities in specialist markets.”
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