LONDON (ShareCast) - Electrical contractor T Clarke rallied as it lifted profits by a quarter and predicted a boost in coming years as London Olympics work picks up while demand at Canary Wharf and the City is still strong.
Pre-tax profit in 2007 rose by 24% to £8.2m, from £6.6m, on turnover up 4% to £193.8m. The dividend for the year rises by 8.8% to 12p.
Clarke said the core London operations turned in an excellent performance with several successful completions and a better quality of business during the year, while trouble spots Derby and Scotland both responded to treatment.
Clarke, which issued a statement last week saying it knew of no reason for the recent fall in its share price, added that business remains steady and as the Olympic Games development programme accelerates, it remains confident that this will lead to further projects.
