Updates

T Clarke - Eps of 21.1p forecast this year

April 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

T Clarke, a building services engineer whose core business is to fit out data centres, smart hospitals and smart buildings, spiked after FY21 results. Sales were up 41% to £327m, pretax profit +53% to £7.8m, eps +46% to 15p and dividend +10% to 4.85p - each a new record. Cash would also have been higher than the reported £5m but for the recently introduced construction industry reverse charge VAT policy (which means no-one in the supply chain can invoice for VAT and pass the money on later to the tax office) absorbing around £4m. Chief executive Mark Lawrence tells me that from the record order book of £534m (+17%) £379m is committed revenue for FY22. At the moment, of the five sectors, its Technologies segme ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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