As TClarke approaches the achievement of its stated GBP500m revenue target, the company's successful share placing prepares the way for ongoing growth as Group CEO Mark Lawrence says.

'As a leadership team we have been extremely pleased with this response from investors and financial markets. We see it as a clear endorsement - not just of our ability to deliver on this transformational plan - but to go forward again. I think it is worth focusing on a couple of paragraphs from the Research Note produced by our house brokers Cenkos' :

FY22A was a transformational year for TClarke, with a step change in the size of the business and leaving it well placed to achieve its stated GBP500m revenue target in FY23E (+17% YoY). The group is focused on some key growth markets (data centres, healthcare and efficient smart building solutions) and with an increasing focus on the 'sustainability agenda' the medium-term growth prospects look to be well underpinned. The recent placing will allow another step change in the growth profile of the business and is a vote of confidence for the management team from investors.

Whilst there continues to be growth opportunities across its core market sectors, the standout growth is from data centres, which now constitutes one-third of group turnover and is likely to be where the majority of the placing proceeds will be deployed. Putting this growth into perspective, FY22A revenues expanded by 230.8% to GBP129m, with the group currently delivering four data centres. According to industry forecasts, the UK data centre market is set to be worth GBP7.2bn by 2027E, an increase of 15% on 2021 (Source: Arizton Advisory and Intelligence).

We are delighted to welcome new institutional investors as shareholders, following the share placing. As years of hard work have translated into strong performance, group efficiencies and the opening up of new markets and organic development of new specialisms, the TClarke growth story is attracting more and more interest.

TClarke invests in apprenticeship, in people and in a high skills engineering model with strong ESG credentials and well focused services - by doing the right things consistently, our people across the country are building a platform for further success. These are exciting times for all with an interest in our business.

Contact:

Tel: 020 7997 7400

Email: info@tclarke.co.uk

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