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The company now plans to turn its focus on the West Midlands, where it fears it may be missing out on opportunities.
TClarke has reported a 5.5% increase in group turnover for 2012 to £193.8m (2011: £183.8m).
Underlying operating profit was squeezed back to £2.9m (2011: £4.7m). Pre-tax profit shrank to £1.2m (2011: £4.9m).
However, the company remains financially secure and debt free. The net cash position improved to £5.6m as at 31 December 2012 (31 December 2011: £0.6m).
Highlights of 2012 included the completion of work on the London 2012 Olympic Stadium, the Emirates Airline cable car, The Shard and Westfield Stratford City shopping centre.
New contracts won during the year include:
- JP Morgan, 60 Victoria Embankment, London
- Mark Lane, London
- IMG Media, Stockley Park
- Arcadia, Bluewater Shopping Centre
- ITV Studios London, External Lighting Scheme
- Croydon Interchange, Croydon, Surrey
- South Dock Stage Complex, Pinewood Studio
- Witham Leisure Centre, Essex
- Cardigan Health and Social Care Centre, Cardigan Bay
- Falmouth Primary School, Cornwall
- RAF Lakenheath Munitions Lighting
- Sheffield Mail Centre, Chiller Replacement
Chairman Russell Race said: “We have concentrated on maximising the value from our existing operations; we have targeted large and complex projects particularly in the London commercial and UK data centre sectors.”
He added: “We have no current plans for acquisitions but will target sustainable growth by expanding our existing businesses into areas where we do not have a local presence, in particular we believe there are opportunities in and around the West Midlands.”
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