- Annual revenue rises 30 per cent from £327mn to £426mn
- £500mn revenue guidance for 2023
- Pre-tax profit and EPS up a third to £10.3mn and 19.6p
- Dividend per share hiked 10 per cent to 5.35p
Building services contractor TClarke (CTO:152p) is riding the data centre boom, the segment contributing £129mn (30 per cent) of last year’s record group revenue of £426mn, up from 12 per cent of the mix the previous year. In fact, the additional £90mn revenue from the division contributed over 90 per cent of the incremental group revenue in the 12-month period.
The rapid growth in demand for data centres is a key pillar of TClarke’s growth strategy. It is well underpinned by multiple drivers including the explosion in cloud storage from providers such as AWS, Microsoft, Google, IBM and Oracle, devices connected to the internet (IoT), streaming and gaming services, ecommerce, 5G networks, and the working-from-home revolution. Post-Brexit, the adoption of UK-specific data protection legislation has led many organisations to open or expand data centre facilities, too.