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T Clarke targets Midlands and London commercial markets as profits shrink in 2012

M&E firm T Clarke says it is targeting opportunities in the Midlands and the London commercial market, as it reported pre-tax profits for 2012 at £1.2m, down from £4.9m in 2011.

It recorded higher revenues of £193.8m, while the order book was also boosted by £40m to £230m.

Chief executive Mark Lawrence commented: “T Clarke and our people delivered a solid, profitable performance despite all the challenges of the construction sector.

It is reassuring for our shareholders as well as the clients and the contractors that we work with that we continue to be financially strong, and that our reputation for delivery is rock solid.

We have an excellent forward order book with good visibility to a number of fully committed high quality opportunities particularly in the London commercial market”.

The Scottish business returned to underlying profit, and all three operating divisions were profitable before “non-recurring costs”, while the group remains debt free.

T Clarke says it has concentrated on maximizing value from existing operations, targeting large and complex projects in the London commercial sector.

The group also said they expected “fierce competition” and continuing margin pressure in 2013, but that the board remained confident in the resilience of the company.

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