T Clarke profits halved as margins tighten

T Clarke, the electrical contractor, has suffered a halving of profits as a result of tightening margins in its core markets of London and the south east.

Interim results published this morning (six months to 30 June) show turnover cut to £71m, down £7m compared with the same period last year. Pre-tax profit suffered more dramatically, halving to £3m.

Pat Stanborough, chief executive, said: “As we have flagged up for some time, this half has proved to be challenging. However, despite the current market difficulties the group has demonstrated that it can deliver an encouraging performance.

“Looking forward, the prospects are very good. Our recent acquisitions have bedded down well and as the commercial property development market improves, our core business will deliver an improved performance.”

Clarke is looking for opportunities to expand its regional network with organic growth and infill acquisitions, with a particular concentration on the south west.