Building services specialist TClarke is set to exceed £500m revenue this year and has built a record order book more than double last year’s level at £1.1bn.

In a trading update this morning, chief executive Mark Lawrence, said: “We have now achieved a significant milestone with our secured order book surpassing £1bn for the first time.

“This substantial growth positions us well for future success and provides the board with continued confidence in our ability to deliver a strong performance into 2024 and 2025”.

Key growth sectors for orders were large M&E building projects and data centres where order levels have tripled.

Market Sectors
Forward Order Book
%
change

Oct ’23 £m
Oct ’22 £m

Engineering
489
225
117%

Technologies (inc data centres)
355
111
220%

Infrastructure
167
121
38%

Residential
66
73
-10%

FM
29
25
18%

Grand Total
1,106
555
99%

Beyond that already secured in the order book, TClarke continues to see significant future opportunities across all of its core markets and is currently selectively tendering for more than £1bn of work.

Lawrence added that present turbulent market conditions were impacting a number of market participants.

TClarke was now seeking to enter early contract agreements and had changed some supply chain partners mid-contract to protect project completion dates.

The group’s 2023 operating profit is now expected to be in the £9m – £10m range.