Acquisitions assist building services group

While revenues were up 2% to £179.0m (2009: 175.5m), pre-tax profit was down 22% to £5.7M (2009: £7.3m).

Chairman Russell Race said: “Operating profits in London and the North held up well under the pressures which the entire construction sector faced during 2010. Our Scottish subsidiary encountered difficulties with a specific large contract. It also had to bear the brunt of the bad weather in December when many sites were forced to close for a considerable period.

T Clarke has sought to expand from being an electrical contractor with a major regional presence into a nationwide building services organisation. To this end, it invested £17m on two acquisitions in 2020: D&S Engineering Facilities and DGR. Both are trading in line with expectations and making positive contributions to the group, the company said.

Group chief executive Mark Lawrence said: "The market that we operate in has continued to be challenging. However, we have made good progress to reposition the group to enable us to offer a wider range of services to our clients. Both our recent acquisitions have made a useful contribution to the group's performance.

“Looking forward, we are well positioned to benefit from the recovery in our markets. Despite the backdrop of a tough trading environment, we remain confident that the group will maintain its industry leading position. Our strategy to create a broader platform will underpin our potential to deliver long-term growth in earnings and dividends."

Got a story? Email news@theconstructionindex.co.uk