T Clarke bounces back

Electrical contractor T Clarke has bounced back from its downbeat results earlier this year by going on the acquisition trail.

Chairman Russell Race told shareholders at yesterday's AGM: "We are in detailed negotiations for one acquisition and I am confident that we will be able to report further progress in due course."

He added: "I am delighted to report that the group has made excellent progress in the first four months of the year. We have been awarded a number of major long-term contracts with blue chip clients across a number of sectors. These include a major scheme with the BBC in central London and work on the new Stock Exchange building in Paternoster Square."

He said the regional businesses are performing well.

When the group announced its results earlier this year, Race warned the City that he expected to see a downturn in business this year.