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TClarke trades well amid very challenging market

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TClarke Contracting delivered a stable financial performance amid a very challenging marketplace, with increased turnover and cash and improved total equity for the business.  

Credit: TClarke.

Revenue for the year ended 31 December 2023 was nearly £491 million, up 15 per cent from the £426 million achieved in the previous financial period, generating a pre-tax profit of £15.5 million (FY2022: £16.3 million).    

The London-headquartered contractor generated an operating profit last year of £15.1 million, down slightly on the prior financial year (£16.2 million), and an operating profit margin of 3.1 per cent (FY2022: 3.8 per cent). 

The specialist engineering company has a healthy forward order book and continues to expand its core business while also looking to enhance its capabilities in specialist markets.  

Net assets and total equity at 31 December 2023 were valued at £30 million, an improvement on the £26.5 million achieved the year before, with improved cash reserves too of £17.3 million, ahead of £13 million in FY2022.      

The company also declared an interim dividend of £8 million paid during the financial period, in line with the prior year, but the directors did not recommend payment of a final dividend (FY2022: £ Nil).   

TClarke Contracting posted profit for the year at 31 December 2023 of £11.5 million, compared to £13.7 million in the prior trading period.   

“2023 has been another year of significant achievement for the company,” said TClarke. 

“The composition of this revenue number and order book reflects the successful implementation and delivery of our strategy in our chosen markets.” 

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