- Record £781mn order book, up £195mn year-on-year
- Pipeline of current tender bids exceeds £1bn
- Revenue guidance £500mn (2023), £600mn (2024) and £650mn (2025)
- £10.7mn oversubscribed placing to support growth
- Single-digit PE ratio and attractive dividend yield
Building services contractor TClarke (CTO:132p) has reported a 33 per cent year-on-year surge in its order book to a record £781mn at the half year stage. First half operating profit of £5.7mn was slightly down on flat revenue of £207mn, but it's not a concern given the material second half weighting as the contracted order book is delivered. The directors are maintaining guidance for 17 per cent growth in full-year revenue to £500mn.
Such is the strength of trading that the group now has more than £1bn tenders in its bid pipeline, too. The boom in data centres, the segment accounted for 31 per cent of first half revenue, and smart buildings are key drivers as is growth in the London market and improved revenue visibility outside of the capital. The technology sector order book has increased 35 per cent to £248mn in the past 12 months.