T Clarke has reported falls in both profit and turnover in the first half of the year, due to problems within two of its regional businesses.

Pre-tax profit at the firm dropped to £3.9 million from £4.1 million. Turnover fell by 3.7% to £96 million, a drop of £4 million from this time last year.

Anglia and Preston are the two branches that have underperformed.

Despite the results, the board recommended a 6% rise in interim dividend to 3.9 p per share.

Chairman Russell Race said: “Our outlook for the full year is unchanged, with the excellent prospects for construction activity country wide, and especially in the south east leading up to the Olympics in 2012.”

Group operating profit in the core operations in London was £2.3 million, representing an 11% increase from the previous year.

Recently won major projects for T Clarke include Kent International Airport and London office developments Ropemaker Place and BP2 Canary Wharf.

Source

Electrical and Mechanical Contractor