T Clarke sees trouble ahead

The financial performances at T Clarke, the electrical contractor, have reached a new peak, but are about to tumble.

Last year's turnover of £140m (£130m) generated a pre-tax profit of £11m (£8m) but the group warned: "Our record of steady progress will be broken this year [ie 2003]. There is evidence of order deferral and cancellation, particularly with respect to larger commercial projects in the South East."

The group reckons this will prove to be a temporary blip and has announced that it is on the hunt for a major acquisition. Last year it made three bolt-ons which have all been integrated.

T Clarke has pulled the plug on its Meggitt Marsh operation at Bournemouth. Bought from the receivers in 1998 it had struggled to regain market share and was still making a loss.

The list of current clients includes BBC (work at White City); Bank of America (Canary Wharf); VISA (Paddington Central) and two supermarkets for Waitrose.