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T Clarke sees hike in orders and cash

T Clarke has seen a hike in new orders and a strong boost in cash, it said in a trading update today.

After a fall in profits during 2012 the firm matched board expectations last year, reporting an order book worth £230m on 31 December.

This compared with £190m 31 December 2011, and the firm has secured over 55 per cent of its 2013 orders.

Net cash was up to £5.4m on 31 December 2012, compared with £0.6m the same time in 2011.

The firm said: “Whilst some cash will be used to fund the working capital requirements associated with new projects, we expect the group’s net cash position to remain positive throughout the course of the normal business cycle. 

“We expect market conditions to remain tough during 2013, but we maintain strict criteria when assessing which projects to bid for and ensure that our tender prices reflect the true cost of completion.”

The company is also a partner in Balfour Beatty’s successful bid on the Welsh Government’s ‘Designed for Life: Building for Wales 3′ National Framework.

T Clarke has secured the first project to be released; Cardigan Health and Social Care Centre, Cardigan Bay, which will start later this year.

New contract wins include The Shard Fit Out Works, London, 240 Blackfriars, Residential Block, London. (The commercial office development for Great Portland Estates having been previously secured), 1,500 Residential units across Scotland, commercial office deals and a Waitrose Stores at Buckhurst Hill, Cirencester, Clapham and Stirling.

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