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T Clarke to ‘carefully select’ Olympic work

Electrical contractor T Clarke said it plans to be selective when invited to bid for Olympic contracts, a process which is expected to begin in the coming weeks.

Non-executive chairman Russell Race revealed the firm’s feeling toward the 2012 tenders ahead of its annual general meeting today, where it will tell shareholders that revenue from its London operations is in line with expectations and has not been affected by the turbulence in the financial market.

In an interim management statement Mr Race said: “A positive aspect of our business is that we expect to be invited shortly to bid for several contracts for the Olympic programme and associated infrastructure works.

"We shall exercise caution and be selective as to which projects we wish to be considered for.”

The group’s order book is currently worth about £200 million.

However Mr Race expected that figure to be boosted in coming months as the firm prepares to secure several other high value projects.

He added: “The financial position of the Group remains strong. We remain on track for 2008 and our focus is on building a strong pipeline of work going into 2009/10.”