Updates

T Clarke

December 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.

TClarke has said H2 has been strong, however sales for the year to 31 December will be £410m as £40m of work that had been expected to be delivered in 2022 was reprogrammed into 2023. It’s also seeing some evidence of price inflation. Operating margins are anticipated to be circa 2.8% and as a result, eps will now rise by 27% this year to 19p instead of 21.3p. Next year’s forecast is 19.7p, based on a margin of 2.4%. The shares remain inexpensive on a forward PE of c.6x with a 7.3p dividend (6% yield). The total secured order book is £545m, of which £384m will land in 2023 whilst TClarke is expecting decisions on £500m of tendered projects by early 2023. Any other company would give their eye teeth for the 27% eps growth TClarke h ...

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Elementis

TClarke - 160p cash offer from Regent Gas (May 2024)

TClarke (April 2024)

TClarke (August 2023)

TClarke (June 2023)

T Clarke (February 2023)

T Clarke (August 2022)

T Clarke - High confidence to beat forecasts (June 2022)

T Clarke - Eps of 21.1p forecast this year (April 2022)

T Clarke - Record Q4 for sales and no supply chain issues (December 2021)

T Clarke - Data centre wins balloon order book to £503m (September 2021)

T Clarke - Cash adjusted PE of 4.7 (February 2017)

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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