T Clarke profits up by a quarter

Pre-tax profits at T Clarke have risen to £8.2m on a turnover of £193.8m for the year ended 31 December 2007. The group has turned around underperforming businesses and is encouraged by its current order book.

Profit before tax rose 24.2% on 2006, while group turnover rose by 4%.

Pat Stanborough, chief executive said: “The Group is in good shape. We have a broad spread of businesses across the UK which are trading well. Despite the wider turbulence in the financial markets, we remain encouraged about the strength of the order book and the opportunities for future work.”

London operations reported a reduced turnover of £77.2m (2006: £80.4m), with profits rising to £5.15m (2006: £3.7m). The regional businesses saw turnover up to £116.6m (2006: £105.9m) and profits steady at £2.5m.

“Although operating at 80% of capacity, due in the main to the slippage on the White City Shopping Centre development, our London operations contributed a very strong performance as a result of successful completions and a better quality order book,” said Pat Stanborough.

“In the regions most companies performed well. The problems in two regions (Preston and King’s Lynn) have since been addressed by management changes, the strengthening of reporting procedures and controls and the close supervision of specific contracts. The board is confident that all regions will show positive results going forward.”

The group announced an increased final dividend up 10.2% to 8.10p. The total dividend for the year was up 8.8% to 12p.