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T Clarke looking for revival in commercial

FINANCE

MARGINS have slipped at T Clarke but the electrical contractor is starting to experience an upturn in core commercial work in central London.

Pre-tax profits edged up £200,000 to £3.7 million but workload rose to a greater degree ? up £20.4 million to £91.6 million.

Chairman Russell Race said: 'Margins in this period were under considerable pressure, particularly in our core operations. However, we are now experiencing an upturn in the London commercial market in both new build and fit-out.' T Clarke has an order book that totals £170 million, excluding jobs from frameworks and partnering deals, but margins have slipped from 4.8 per cent a year go to 4 per cent.

With the firm pressing ahead with regional expansion Mr Race expects this and the London upturn to revive margins in the second half.

In the first half, the firm bought Smith Contracting from Falkirk for £4.1 million and St Austell-based Waldon for £1.7 million.