Simon Thompson 

TClarke’s £1bn tender pipeline points to valuation anomaly

Simon Thompson

Simon Thompson

I had an incredibly informative results call with the directors of nationwide building services contractor T Clarke (CTO:105p). The company ended the half year with a bumper £370m order book, having won around £130m worth of tenders since the end of 2018 and delivered 12 per cent higher revenues of £171m in the six month trading period. It’s increasingly profitable work, as highlighted by the uptick in operating margin from 2.6 per cent to 2.9 per cent, which helped drive the 24 per cent increase in first half underlying pre-tax profit and earnings per share (EPS) to £4.6m and 8.67p, respectively.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now