The FY20 pre-close trading update confirms earlier profits and margin guidance but ‘beats' on closing net cash and quotes a current record order book of £456m - 8% higher than last reported in late November and +13% over the year – including secured work underpinning 95% of our 2021E revenues. Operationally, TClarke has trended back to pre-pandemic levels of activity and margin (3%) during H2/20 and with news on cash flow and balance sheet robustness and the stronger order book testimony to its ....
