黑洞社区

黑洞社区 services contractor T Clarke has reported a 20% dip in profit over the last six months despite a rise in revenue.

In a statement to the City, the firm reported an underlying operating profit, which excluded finance and restructuring costs, of 拢1.2m in the six months to 30 June 2013, down from 拢1.5m over the same period last year.

However, revenue rose to 拢114.7m from 拢90.7m over the period. The firm鈥檚 underlying operating profit margin fell to 1% from 1.7%.

Chief executive Mark Lawrence remained upbeat and said the firm had 鈥済ood visibility of workload鈥� with projects extending into 2015.

He added: 鈥淐ompetition remains fierce, yet we remain focused on choosing carefully which projects we tender for.

鈥淟ooking forward, there are signs of increased client activity especially in London, although this has yet to translate into improved margins.鈥�

The firm has secured work on a number of major projects over the last six months including upgrade of the Bank underground station, work on Queen Elizabeth II hospital in Hertfordshire and a contract on a commercial office space in Mark Lane in London.

The firms Northern division performed most strongly reporting a rise in underlying operating profit to 拢1m from 拢893,000 over the period despite a 拢2.3m fall in revenue.

But the T Clarke鈥檚  Southern division, its largest, suffered from a squeeze on margins. It reported an underlying operating profit of just 拢20,000 down from 拢617,000 despite a 36% rise in revenue to 拢91m over the period.

The firm鈥檚 Scottish division returned to profit reporting an underlying operating profit of 拢2,000 up from a loss of 拢108,000 in the six months to 30 June 2012.