T Clarke: share price drop triggers statement

T Clarke, the electrical contractor, felt the need to put out a short two-paragraph statement on the Stock Exchange today, a move was triggered by a fall in Clarke’s share price.

In the statement, Clarke seeks to confirm “that it is not aware of any reason for this share price movement”.

It adds: “The group released a trading statement on 19 November 2007 and reported that trading had been strong during the second half of 2007.

“The group also updated shareholders on the scale of the orderbook and stated that it was confident about the prospects for the group. The board stands by that announcement.”

The plan is for no more further insights into life at the coalface until 28 March, when Clarke announces its full 2007 results.

Today’s statement declares that Clarke, at that point, looks forward to updating shareholders on current progress, together with an update on the outlook for the remained of 2008.

Any ideas as to what has rattled the City’s cage?