Last updated 10 March 2023
TClarke Plc
TClarke Plc is a specialist mechanical and electrical contractor with origins dating back to the late nineteenth century. Founder Tommy Clarke took on his first contract in 1889. Since then, TClarke has grown into one of the UK’s largest specialist contractors with an annual turnover of more than £400 million. The group is one of the last specialist contractors still quoted on the stock exchange.
Financials
In the 2022 calendar year, turnover at TClarke surged by 30% to £426.0 million (2021: £327.1 million) and pre-tax profits rose 32% to £10.3 million (2021: £7.8 million). At an operating level, profits leapt 31% to £11.5 million (2021: £8.8 million).
To view the financials for TClarke Plc, visit Companies House and use Company ID 00119351.
Operations
TClarke works in the infrastructure, residential & hotel, facilities management, engineering services and technology sectors. The group has worked on some of the UK’s most high profile projects, such as The Shard in London, the 2012 Olympic Stadium and the Westfield shopping centre in west London.
After a period of expansion driven by acquisitions, the group operates from a headquarters in London and has 20 offices across England, Scotland and Wales, which give TClarke a national presence.
The group traditionally works on many major flagship projects in London, such as the £500 million Peninsula Hotel scheme in Westminster (Project ID: 12069945) to the £900 million One Nine Elms development (Project ID: 11290096) in Wandsworth to Google’s £1 billion KGX1 headquarters at King’s Cross (Project ID: 10394495).
TClarke is also on a number of major frameworks such as the £2.5 billion Procure Partnerships National Minor Works Framework (Project ID: 19446429).
Although Newcastle-based electrical business Veale Nixon still trades under this name and in Cornwall the group trades as Waldon, most of the new businesses acquired in the earlier expansion spree have been rebranded under the TClarke umbrella. The group’s divisions cover the South, North and Scotland. TClarke works in five key strategic markets.
In 2017, TClarke acquired Eton Associates, which is now part of the London & South East Region.
For financial purposes, the group operates across three regional divisions. The core of the group workload continues to come from the London region, where in 2022 turnover rose to £270.0 million (2021: £189.4 million) and operating profit increased to £10.6 million (2021: £6.2 million).
Revenue in the North, which now includes Scotland, increased to £78.0 million (2021: £70.6 million) but operating profits fell back to £2.4 million (2021: £3.0 million), while in the South revenue increased to £78.0 million (2021: £67.1 million) but operating profits fell for a second year in a row, dropping to £2.1 million (2021: £2.6 million).
Glenigan Data
Glenigan’s data shows that TClarke works in the public sector for clients such as the Defence Infrastructure Organisation (DIO) and the Department for Education, local authorities and NHS trusts in areas from Bristol to Plymouth and private sector clients including Google and Stanhope. The group also works for a wide range of registered social landlords including The Guinness Partnership and Home Group.
TClarke is also part of the supply chain for main contractors, such as ISG, Robertson and Morgan Sindall and works for major housebuilders such as Barratt, CALA, Miller and Taylor Wimpey.
Conclusion: Heading for half a billion target
After unveiling the full impact of COVID-19 on trading in 2020, TClarke proclaimed an ambitious target of driving revenues up to £500 million within the next three years. That was an ambitious target but despite concerns over the wider economy, certain sectors are helping to sustain strong growth and the potential to realise that goal.
The Mission Critical business is focused on data and power and diversifying out from the traditional core market of London, which was initially sluggish due to Brexit uncertainty but is now rapidly improving. In 2022, technological work including data centres provides the largest slice of revenue at £145 million, and has overtaken M&E contracting on £125 million £116.9 million and infrastructure on £80 million. Healthcare work also grew at a strong rate to £47.0 million (2021: £31 million).
Revenue solely from data centres tripled to £129 million (2021: £39 million) and new work is being taken on for clients such as Echelon Data Centres. As a well-established sub-contractor with a national customer base, TClarke is well-placed to take further advantage of growth in this area.
Regionally, work in London remains the main driver. In UK South, the group had a string of problems and closed the Bristol office and profits continue to fall, but the group is looking to expand its regional customer base. In 2022, TClarke had 19 projects valued at £5 million or more outside of the capital.
Setting up new offices in Liverpool and Manchester has brought work in the North West, and the group is also attached to major schemes across the Pennines in Yorkshire including the £210 million Points Cross residential development for United Living and The Guinness Partnership (Project ID: 18132961).
Overall, the national order book grew at a significantly slower rate than turnover at just 4%, although £430 is committed revenue (2021: £379 million). The rate of growth which may slow but net cash at the end of 2022 strengthened by 42% to £7.5 million (2021: £5.3 million) and the management believe that make a revenue target of £500 million in 2023 is achievable.
Winning Work With TClarke
As one of the UK’s largest specialist sub-contracting businesses, TClarke has a large directly employed workforce and its own workshops in Essex, Yorkshire and Scotland to service the manufacturing business. Companies interested in supplying products to T Clarke’s manufacturing businesses should in the first instance, contact the Chief Buyer at the group’s London headquarters.
Key T Clarke procurement contacts include:
Divisional director Mission Critical – Martin Thomas, tel: 020-7997-7400
Group procurement manager – Sally Higgins, tel: 020-7997-7400
Estimating Manager – Stephen Dowd, tel: 020-7997-7400
Contracts manager – Tony Clarke, tel: 020-7997-7400