Resultados finales
tclarke plc
Resultados del ejercicio finalizado el 31 de diciembre de 2023
TClarke genera ingresos récord de 491 millones de libras esterlinas
TClarke plc ("el Grupo" o "TClarke"), Building Services Group, anuncia sus resultados preliminares para el año finalizado el 31 de diciembre de 2023.
Aspectos financieros más destacados
RESULTADOS DEL AÑO COMPLETO TERMINADO EL 31 DE DICIEMBRE | 2023 | 2022 | Cambios |
Ingresos | 491.0m | 426.0m | + 15% |
Beneficio operativo | 9.4m | 11.5m | - 18% |
Beneficio antes de impuestos | 7.6m | 10.3m | - 26% |
Beneficio básico por acción | 13.75p | 19.60p | - 30% |
Efectivo neto al final del año | 19.3m | 7.5m | + 157% |
Dividendo total por acción | 5.9p | 5.35p | + 10% |
Libro de órdenes de reenvío | 943m | 555m | + 70% |
2023 resumen
· Group delivering on its growth strategy
· Los ingresos aumentaron un 15 % hasta los 491 millones de libras esterlinas
· Forward order book up 70% to £943m
· Operating margin of 1.9% (2022: 2.7%), in line with the Company's trading update of November 2023
· Balance fuerte
· Efectivo neto £ 19.3 millones (2022: £ 7.5 millones)
· Activos netos 53.4 millones de libras esterlinas (2022: 38.7 millones de libras esterlinas)
· Successful equity placing raised gross proceeds of £10.7m during the period
· Data centre business expanding rapidly with £346m of orders (2022: £88m)
· Política de dividendos progresivos con dividendo total hasta 10%
· Apprentices now number 247 (2022: 210) making up 18% of workforce
· Las emisiones totales de tipo 1 y 2 caen a 4.4 tCO2e/£m de ingresos (2022: 4.8 tCO2e/£m de ingresos)
Mark Lawrence, CEO commented:
"Initiated in March 2021, our ambitious journey aimed to double our revenues through organic expansion. It is very pleasing to report that in 2023 we successfully achieved these growth plans.
Our growth reflects the high quality of our operations and the talent and commitment of our people, supply chain partners and the ongoing support of our clients.
The Group boasts a robust forward order book comprising top-tier projects in our target sectors, underpinned by a strong balance sheet with our net assets having increased by 38% compared to 2022, reflecting our financial strength.
Looking forward, we are poised to maintain our progress in our targeted markets, positioning us favourably to achieve our growth plans for 2024 and beyond."
-veces-
Fecha: 15th Marzo 2024
Para más información comuníquese con:
tclarke plc
Director ejecutivo del grupo Mark Lawrence
Trevor Mitchell Director financiero
Tel: 020 7997 7400
www.tclarke.co.uk
Cavendish Capital Markets Limited (Corporativo Broker)
Ben Jeynes (Finanzas corporativas)
Dale Bellis / Andrew Burdis (Ventas y ECM)
Tel: 020 7220 0500
www.cavendish.com
Socios de RMS
Simón Courtenay
Tel: 020 3735 551
Declaración del presidente
2023 has been another year of significant achievement for TClarke. In a very challenging marketplace revenue increased by 15% to £491m (2022: £426m). The composition of this revenue number and order book reflects the successful implementation and delivery of our strategy in our chosen markets.
Our strategy is to pursue organic growth by focusing on our five core market sectors, whilst building our market presence in data centres, large projects outside of London, smart buildings and healthcare. Whilst revenues from these areas reduced to £189m in 2023 (2022: £220m) they form a substantial part of our Forward Order Book with data centres alone accounting for £346m.
Our forward order book now stands at £943m, an increase of 70% (2022: £555m) which again demonstrates the successful implementation and delivery of our strategic development plans.
In common with the wider market, we have faced significant economic and political upheavals and uncertainties throughout 2023, and this has perhaps been particularly the case in our Engineering Services sector. Despite this, we have achieved an operating profit of £9.4m in 2023 (2022: £11.5m), which is a very creditable result given the uncontrollable external pressures we have had to manage this year. This performance results not just from the successful implementation of our strategy, but also from the effective and continuous strategic and operational management and focus on delivery and performance.
During the year we completed a successful share placing which raised additional net proceeds of £10.1m. The rationale behind the placing was to increase our working capital levels to support our increased levels of activity and the changing nature of our working capital requirements given the increased size and complexity of current and future projects. The placing was oversubscribed, and new shares were taken up by both existing major shareholders and several new institutional investors. The support and increased investment by both existing and new shareholders through this placing is further evidence of the recognised success of our chosen strategies and investor confidence in our forward growth and performance.
We remain committed to a progressive dividend policy while at the same time balancing the interest and needs of all stakeholders. We are proposing a 2023 final dividend of 4.525p per share (2022: 4.1p) which together with the interim dividend of 1.375p paid in October 2023 brings the full 2023 dividend to 5.9p per share (2022:
5.35p), an increase of 10%.
We have continued to invest in our responsible business activities, and I'm extremely proud of the enormous amount of work and innovation by our teams in enabling us to address climate change and deliver social value to the communities where we work.
Our manufacturing facilities in Stansted and Coatbridge have enabled TClarke to significantly reduce its carbon footprint. In addition, investment has been made into our carbon calculator for calculating Scope 3 emissions; information from which has been used on several tenders.
During the year our offices switched to 100% renewable energy, and we have introduced our first wave of electric vans within the Group's fleet.
Our teams have continued to build partnerships with schools, charities, and social organisations to provide work and training opportunities for local communities and introduce young people to careers in construction. This will help promote diversity while building a talent pipeline for the industry. We have been decarbonising schools, making them more energy efficient.
We continue to be the leading provider of apprenticeships in our sector, with 247 apprentices currently in place across the Group. This represents 18% of the total workforce (2022: 16%) - significantly more than the industry norm of 5%. This is a positive and substantial investment made with our confidence in TClarke and the future.
As we look forward to 2024 and beyond it seems unlikely that the current significant external economic and national and geopolitical challenges will lessen. Despite this, I look to the future with confidence for TClarke. We have a significant and growing order book at record levels. Our strategy is delivering and the successful share placing in 2023 demonstrates the confidence and support of the investment community in our performance and prospects. Our management, delivery focus and capabilities give TClarke the ability to continue to grow and prosper.
As ever, however, it is the collective and outstanding effort and output of our people which delivers the distinctive TClarke brand - a brand which is very strong, built upon our reputation for high quality engineering, reliability and on time delivery. It is our people and our brand that enable us to grow and perform and to face the future and its challenges with confidence.
Informe del director ejecutivo
An effective model and a fresh target for growth
In March 2021, we began a journey to double our revenues. As we approach and pass this goal, the Company will continue to deliver organic growth, delivered with our consistent commitment to strong engineering with good values - and achieved without the costs or risks of acquisition.
We are able to increase our growth target significantly only because we can rely on the steadfast support we receive from our partners, customers, shareholders, and most importantly, our dedicated TClarke team, even amidst ongoing market challenges. I extend my heartfelt thanks to each of you for your invaluable contribution to our ongoing achievements.
This business model outputs sustainable growth
The challenges of inflation and supply that persisted throughout the year appear likely to persist further due to conflicts around the world. These factors continue to affect our markets, yet our robust business model and risk management practices enable us to mitigate risks, minimise disruptions, and capitalise on opportunities to keep on track with growth.
Once again in 2023, this business has succeeded in winning high-quality work, delivering it to our clients' satisfaction, and building our resource of people, skills, and capabilities to enable further headroom for growth.
Organic growth of this kind is sustainable. It allows us to broaden our client base, diversifying our risks and increasing both the scope and scale of opportunities available to us. This growth increases our resilience, while also increasing the value delivered to our stakeholders.
Together we operate a consistent and straightforward strategy
We operate in competitive, commercially driven markets, delivering complex engineering services. But our strategy is simple, fully understood by our people, and executed with precision across our business.
We maintain a disciplined and selective approach to tendering. We do not tender for projects where the margin is unacceptable.
We focus on workstream opportunities within five market sectors which we understand well, where our brand is known, where opportunities for growth exists and where we have market-leading expertise and skills.
We build and invest in our resource to maximise operational flexibility, adopting and pioneering new services like MMC (Modern Methods of Construction) which significantly expand our resource capabilities. We also balance and flex our growth across and between these sectors to take advantage of market opportunities and cycles and manage our risks effectively.
This approach has been followed consistently and fine-tuned, year by year. Our investments in systems, processes and skills have been focused on improving our ability to deliver this strategy.
Our goal in each of our five core markets is to be 'contractor of choice' in the marketplace, recognised for the quality and value of our work.
Every team in the business understands the strategy and what it requires from us. I am very proud of the performance levels which our people have achieved throughout the year. We can always do better - but their
focus has been excellent and should be recognised.
Delivering record revenues
2023's record revenues of £491m are headlined by our performance in the Engineering Services market sector, but fully supported by strong revenues across all markets.
Large projects outside London achieved notable growth from £37m in 2022 to £88m in 2023. This reflected a step change across our regional operations - for example, during the year we were able to report the doubling of the average Engineering Services tender size in Scotland and a total of 19 projects of £5m + being delivered across our regions.
Delivering record forward orders
Our success in 2023 can be measured in the exceptional growth in our forward order book. In competitive markets, clients have actively sought to lock in TClarke teams to deliver their projects. Our order book has grown 70% in the last year, from £555m in 2022 to £943m in 2023. This delivers a major strategic advantage - allowing us to manage efficiently, invest for value and select future projects from a position of greater strength.
Although 2023's order book growth has been led by Technologies, which has more than trebled from 2022, that should not mask the exceptional growth enjoyed in Engineering Services and Infrastructure.
The Infrastructure order book has grown 47% compared to last year to £178m - reflecting both our long-term play in the healthcare sector and pleasing growth in other sectors including defence.
Engineering Services orders are up 39% - reflecting both our ongoing strength in major London markets and our growing presence and relationships across the country.
The order book growth for Technologies of 223% is in large part due to our growing reputation and leadership in the data centres market. Appetite and demand for TClarke teams and services, matched by our expanding resource base and skills, make this a strong area for our business. As the data centre industry approaches an 'iPhone moment', with the adoption of AI accelerating demand and need for data centre services, we see substantial opportunities in the years ahead.
Delivering the same unique brand experience
We are now entering our 135th Año de aniversario.
In 1889, it was TClarke's 'wires encased in fire-proof materials' that enabled electrification for Royal Palaces including Windsor Castle and St James' Palace. Modern Methods of Construction (MMC), Smart Buildings and Alternative Energy Solutions are just three of the technologies where our leadership is enabling progress today. Our brand reputation has been built one project at a time during this year, just as it has every year since 1889. Today it operates as a significant commercial asset alongside our financial strength - allowing people to place their trust in TClarke.
I am very pleased to report that in 2023 our ability to retain clients remains central to our success. During the year, 92% of projects have been with repeat clients and/or principal contractors. At the same time, particularly in the field of data centres, we are also building a broad new portfolio of long-term partners, operating frequently as the General Contractor (GC) in these projects, where the building services dominate.
The continued strength of our business is due in no small part to the long-term relationships we enjoy - with major
developers in London, housebuilders in Scotland and the NHS and defence sectors nationwide to name just a few. Our retention rate and the depth and length of relationships we build with our clients and supply chain is testament to the strong culture at all levels within our business.
Everything starts with our Resource
Culture depends on people. Once again, this year we have invested in excess of £6m in our apprentices across the UK and had 247 apprentices within the business (compared with 210 in 2022). Moreover, in 2023 we also reported a record 900 applications for our apprenticeships. This substantial commitment and interest creates a pipeline of future talent, designed to deliver both skilled operatives and future leaders in the volume and quality we require to meet our needs for growth. It also means that TClarke has deep roots in our local communities.
Offsite manufacture allows us to prefabricate major components of a building's engineering services in safe, factory conditions - and vastly improve efficiency and onsite logistics and environmental performance. During 2023 our two prefabrication facilities in Stansted, Essex and Coatbridge, Central Scotland completed a number of successful projects for our clients. Our confidence in resetting growth targets is only possible because of this exceptional resource of people, skills and facilities in-house. We keep investing and innovating to create further headroom for growth. Our competitors, whose models are overly dependent upon the use of sub-contractors, cannot achieve this level of confidence.
Our people build and retain Engineering Expertise
In 2023 our Bankside Yards project delivered a new industry benchmark for integrated offsite manufacture, helping achieve the UK's first fossil-fuel free major mixed-use development. This was one of several major London Engineering Services projects in 2023 where TClarke teams advanced the industry standard - in everything from smart buildings to upgraded energy performance.
During 2023, TClarke London was also highly successful in quietly delivering some extremely complex major projects - including our largest Engineering Services project ever. These performance highlights in London were
fully matched nationwide by the delivery of high profile, complex projects ranging from laboratory suites at Sawston Unity Campus in Cambridge, to numerous scanning facilities for hospitals across Britain to The Bristol Beacon - the year's largest arts project outside London.
Within the world of data centre engineering, TClarke progressed at pace in 2023, not only delivering £100m of revenue but securing a pipeline of £346m. These project wins are far more than figures in a financial report - they
directly reflect the fact that we have made ourselves acknowledged leaders in the engineering of data centres. Our engineering expertise - in particular the scale and number of high-quality in-house teams we can offer - has been the single most important factor in driving the growth of our data centre business.
Overall, our depth of engineering experience and talent, our passion and pride to complete projects successfully for our partners and track record of complex landmark projects is one that no other team in the market can match. Crucially, due to our commitment to in-house careers, our engineering expertise stays within our business and builds over time. This body of knowledge has grown yet again in 2023, allowing us to hand pick the right team for our clients' project needs - from our own people.
A Responsible and progressive business
As well as being a high-quality engineering services business, TClarke has played a progressive role in society throughout 2023, in directly tangible ways that impact our local communities.
Our nationwide apprenticeship scheme sets the industry Gold Standard for quality - measured by its scale within our business and our consistently high percentages of successful completions. We need it because of our longstanding belief in high quality in-house careers, career development and employment for our people. During 2023 our directly employed workforce increased by 9%. Our number of training days also increased by 62%. The significant investments we make every year in local people are at the heart of our difference and the substantial social value which TClarke delivers to our communities. We work hard to offer our teams the best environments to collaborate, share knowledge, work safely and build careers. We are also proud to support many local community projects, charities and sporting teams for boys and girls of all ages nationwide.
At the start of 2023, we launched 25 by 28 - our five-year plan to fill 25% of our apprenticeship and training positions with women by 2028. During our 2023 apprenticeship intake we took our first small steps to make that a reality. Over the next five years we will continue to work at what is a deliberately ambitious target.
We have set the bar at this level because a fully diverse workforce, fit for the future, accessing the greatest range of talent, is a prize we want to win.
Al colaborar con socios de toda nuestra industria y tomar la iniciativa en un tema tan importante, también reconocemos que lo que logramos aquí creará un valor mucho más amplio y nuestros éxitos ayudarán a restablecer los estándares y expectativas de todos.
Most importantly of all, TClarke is committed first and last to the safety and wellbeing of all our people and those with whom we work. During 2023 these commitments were expressed in a wide-ranging series of safety events, training, services and metrics for our staff to improve safety performance in every way we can. The increase in usage of our You Say You See reporting tool of 45% has been one of many highlights achieved during the year.
Outlook
The strength of our £943m forward order book is matched by a robust pipeline of current opportunities and a strong balance sheet with net assets of £53.4m. We have clarity in our strategy, balance across our sectors and a depth of available resource and capabilities across our business for further growth.
These strengths have allowed the board to approve our next medium term growth target of £650m. Within that medium term outlook, we see that our Technologies businesses have continued strong prospects, fueled by the emergence of AI, driving ongoing growth in data centre markets. At the same time, the advance towards Net Zero is driving the adoption of new alternative energy and smart buildings technologies, transforming needs across our Engineering Services markets. Our continued leadership in London engineering services and our growth in infrastructure and large regional projects adds further confidence.
While we expect and plan for challenges on every scale, we are looking forward to continued growth for all our stakeholders, achieving optimum revenues and margins. We are also focused on doing things the right way - the TClarke Way.
Our brand has been around for one hundred and thirty-five years; right now, our leadership in critical new engineering services technologies is more assured than ever.
That fact is not determined by our board but by the customers who choose and the TClarke teams who deliver. It is a matter of great pride that we have been able to immediately revise our target upward. There is great optimism in our business - based on the ongoing potential for organic growth we see in the immediate years ahead.
Revisión financiera del grupo
Puntos clave
Progreso contra los objetivos estratégicos:
Objetivo estratégico: | Progreso |
Obtener ingresos de 500 millones de libras esterlinas para fines de 2023 | · Ingresos en 2023: 491 millones de libras esterlinas · Aumento de 65 millones de libras esterlinas |
Crecer orgánicamente | · Cartera de pedidos 943 millones de libras esterlinas · Pedidos de tecnología de 359 millones de libras esterlinas · Importantes proyectos ganan en todo el Reino Unido |
Mantener un margen operativo del 3% | · 2023: 1.9% de margen alcanzado |
Mantener una posición privilegiada en los mercados principales | · Cartera de pedidos repuesta y aumentada · Technology, now 38% of Order book · 90% de la facturación de clientes habituales |
The Group has continued to grow strongly recording revenues of £491m (2022 £426m). 2023 marks the end of the 3 year growth plan to grow revenues organically from £300m pa to £500m pa. This plan has substantially been achieved. In addition through the opportunities and orders TClarke has generated we are confident that our growth will continue throughout the next period. Our order book has grown to £943m (2022 £555m) as shown below:
| 2023 Adelante Libro de pedidos | 2022 Adelante Libro de pedidos |
Sector del mercado | £ m | £ m |
Servicios de Ingenieria | 313 | 225 |
Tecnologías | 359 | 111 |
EN LA MINA | 178 | 121 |
Residencial y hoteles | 66 | 73 |
Gestión de Instalaciones | 27 | 25 |
Total | 943 | 555 |
We have seen revenue growth across all of our market sectors in 2023, with the exception of Technologies, where the phasing of our data centre work has seen a number of large projects complete during the year, with the next batch of large projects featuring heavily in our secured work for 2024.
Resumen de desempeño financiero
2023 £ m | 2022 £ m | |
Ingresos | 491.0 | 426.0 |
Beneficio operativo | 9.4 | 11.5 |
Costos financieros netos | (1.8) | (1.2) |
Beneficio antes de impuestos | 7.6 | 10.3 |
Taxation | (1.1) | (1.9) |
Beneficio después de impuestos | 6.5 | 8.4 |
Beneficio por acción - básico | 13.75p | 19.60p |
Dividendo por acción | 5.90p | 5.35p |
Activos netos | 53.4 | 38.7 |
Dividendo por acción representa el dividendo a cuenta y complementario propuesto o pagado para el ejercicio de que se trate.
In line with our strategic objective of targeting large jobs outside London, 2023 revenue for the year for such jobs (project size >£5m and based outside the M25) is now £88.2m (2022: £37m). We have also seen continued strong performance in our healthcare and smart buildings offerings.
Operating profit for 2023 was £9.4m (2022: £11.5m). Earnings per share were 13.75p for the year (2022: 19.60p) on an operating margin of 1.9% (2022: 2.7%). This was below our 3% target, reflecting several strategic decisions taken by management to preserve the business's strong market and financial position in view of the construction sector's turbulent trading conditions. These decisions have included early settlement of final contract amounts and the changing of some supply chain partners mid-contract to protect project completion dates. On one large contract in particular it was necessary to replace a key part of our supply chain and re-procure the work across a number of smaller packages. It is anticipated that these projects will continue to be delivered to their project programmes albeit at reduced margin.
The Group took a number of actions during the year to strengthen its balance sheet, including the raising of net proceeds of £10.1m by way of an oversubscribed placing of new ordinary shares in the Company. The issue price was 122p per share representing a 14% discount to the closing price of 141.5p on 5 July 2023. The placing was for 8,749,337 ordinary shares with a nominal value of 10p. The proceeds provide additional resources with which to capture and deliver attractive contract opportunities in the London business and in doing so drive further growth and margin expansion. The placing attracted a number of new institutional investors and in doing so has broadened our shareholder base.
Our growth has not been driven by acquisitions and this will remain our policy going forward. TClarke remains financially secure, ending the year with net cash of £19.3m (2022: £7.5m) with £30m of bank facilities at its disposal. Despite the tough prevailing market conditions and the high level of insolvencies amongst our supply chain, competitors, and potential customers, we are pleased to report that our robust credit control processes have limited our bad debt expense for the year to £0.3m (against total revenue of £491.0m), and in line with
our historical average.
Net finance costs were £1.8m (2022: £1.2m), comprising: a £0.4m increase in bank interest and facility fees to £1.0m (2022: £0.6m); the Group's defined benefit pension scheme interest charge of £0.6m (2022: £0.4m) and an interest charge of £0.3m arising from leases (2022: £0.2m), offset by £0.1m of interest received on cash balances.
El cargo por impuestos para el año fue de 1.1 millones de libras esterlinas (2022: 1.9 millones de libras esterlinas). TClarke mantiene una relación de trabajo abierta y colaborativa en todas las interacciones con HMRC, y actualmente no hay posiciones impositivas inciertas.
The Group paid its 2022 final dividend in full in June 2023 and an increased interim dividend in September 2023 of 1.375p (2022: 1.25p). The Board is proposing a final dividend of 4.525p (2022: 4.1p). The total proposed dividend therefore rises to 5.9p (2022: 5.35p), an increase of 10%. The dividend is covered two times by earnings.
TClarke recognises that many of its shareholders invest for dividends.
Flujo de Caja y Financiamiento
Cash balances totalled £29.3m at 31 December 2023 (2022: £22.5m). £10m was drawn down under the Group's Revolving Credit Facility ("RCF") at 31 December 2023 (2022: £15m), resulting in net cash of £19.3m at the 2023 balance sheet date, an improvement of £11.8m on the prior year (£7.5m).
2023 | 2022 | Cambios | |
£ m | £ m | £ m | |
efectivo | 29.3 | 22.5 | 6.8 |
Cantidades dispuestas bajo RCF | (10.0) | (15.0) | 5.0 |
El efectivo neto | 19.3 | 7.5 | 11.8 |
The increase in net cash has been largely driven by the share placement in July together with the Group's operating profit for the year once allowances have been made for other cash outflows such as dividend payments and the Group's commitment to the pension deficit reduction plan. Furthermore, the Group's continued focus on strong credit control processes has ensured that the growth in revenue has been achieved without any significant increase in working capital balances.
The Group's banking facilities comprise a £5.0m overdraft facility and a £25.0m revolving credit facility ('RCF'), both with National Westminster Bank plc, with the level of usage available dependent on covenant compliance. The RCF charges commitment fees at market rates and drawings bear interest at a margin of 1.9% above SONIA. Interest is charged on the overdraft at 2.00% above base rate. The RCF includes financial covenants in respect of interest cover and net leverage ratios which are tested quarterly. The RCF is available until 31 August 2026 and the overdraft facility is subject to annual review.
The Group was compliant with its obligations under the RCF and the overdraft facility throughout the year and the Board's detailed projections demonstrate that the Group will continue to meet its obligations in the future and is expected to operate well within its existing facilities throughout the next three-year period. The Group also has in place £70.1m of bonding facilities (2022: £65.1m), of which £37.7m were unutilised at 31st December 2023 (2022: £34.3m).
Obligaciones de los planes de pensiones de prestación definida
A formal actuarial valuation of the Group's defined benefit pension scheme was conducted at 31st December 2021 showing a deficit of £19.8m, representing a funding level of 71%. The pension scheme's actuary also looked at the position at 31 December 2022 in view of the worsening macroeconomic conditions. At that date the funding level remained at 71% but the deficit was estimated to be approximately £11m.
Following the valuation, the Group has committed to a deficit reduction plan to eliminate the deficit over an 8 year period, through additional contributions of £1.3m per annum. The deficit on the pension scheme, as measured on an IAS 19 valuation basis for inclusion in these financial statements, has now reduced to £11.8m (2022: £12.9m). The reduction of £1.1m over the year has been largely driven by the £1.3m additional contributions made by the
Group as part of the deficit reduction plan.
Activos netos y estructura de capital
The Group is funded by equity capital, retained reserves and bank facilities, and there are no plans to change this structure. We have built on our existing strong balance sheet and net assets are now £53.4m (2022: £38.7m), an
increase of 38%. The increase largely reflects the combined impact of the Group's profit after tax for the year, the proceeds of the share placement, dividends paid, and the reduction in the defined benefit pension deficit.
El fondo de comercio se situó en 25.3 millones de libras esterlinas a finales de año (2022: 25.3 millones de libras esterlinas). La Junta ha llevado a cabo una revisión del deterioro con respecto a la plusvalía y ha concluido que no es necesario un deterioro.
Gestion de riesgos financieros
The Group's main financial assets are contract and other trade receivables, and bank balances. These assets represent the Group's main exposure to credit risk, which is the risk that a counterparty will fail to discharge its
obligations, resulting in financial loss to the Group. The Group may also be exposed to financial and reputational risk through the failure of a subcontractor or supplier.
La solidez financiera de las contrapartes se considera antes de firmar contratos y se revisa a medida que avanzan los contratos cuando hay indicios de que una contraparte puede estar experimentando dificultades financieras. Los procedimientos incluyen el uso de agencias de crédito para verificar la solvencia de clientes nuevos y existentes y el uso de listas de proveedores aprobados y acuerdos marco de todo el Grupo con proveedores clave.
Políticas de contabilidad
Los estados financieros consolidados del Grupo se preparan de acuerdo con los requisitos de la Ley de Sociedades de 2006 y de acuerdo con las normas internacionales adoptadas en el Reino Unido. No se han adoptado nuevas políticas contables en el ejercicio.
Cuenta de resultados consolidada
Por el año terminado el 31st Diciembre 2023
2023 | 2022 | ||
Note | £ m | £ m | |
Ingresos El costo de ventas | 3 | 491.0 (441.7) | 426.0 (378.6) |
Beneficio bruto | 49.3 | 47.4 | |
Gastos administrativos | (39.9) | (35.9) | |
Beneficio operativo Ingresos financieros | 9.4 0.1 | 11.5 - | |
Costos financieros | (1.9) | (1.2) | |
Beneficio antes de impuestos Taxation |
4 | 7.6 (1.1) | 10.3 (1.9) |
Beneficio del ejercicio | 6.5 | 8.4 | |
Ganancias por acción Atribuible a los propietarios de TClarke plc Basic Diluido |
5 5 |
13.75p 13.73p |
19.60p 19.51p |
Declaración consolidada de ingreso comprensivo
Por el año terminado el 31st Diciembre 2023
2023 | 2022 | ||
Note | £ m | £ m | |
Ganancias del año | 6.5 | 8.4 | |
Otros (gastos) / ingresos integrales Partidas que no se reclasificarán a la cuenta de resultados Ganancia actuarial en el plan de pensiones de prestaciones definidas Revalorización de la propiedad absoluta Impuesto diferido relativo a partidas que no serán reclasificadas |
0.2 (0.5) (0.1) |
9.2 (0.2) (2.4) | |
Total de otros (gastos)/ingresos integrales del año (neto de impuestos) | (0.4) | 6.6 | |
Resultado integral total del año | 6.1 | 15.0 |
Estado de Situación Financiera Consolidado
Como a los 31st Diciembre 2023
2023 | 2022 | ||
Note | £ m | £ m | |
Activos no corrientes Activos intangibles Propiedad, planta y equipo Activos por impuestos diferidos Cuentas comerciales y otras cuentas por cobrar |
7 |
25.3 11.8 3.2 12.0 |
25.3 13.5 3.6 6.3 |
Total del activo no corriente | 52.3 | 48.7 | |
Activos circulantes Los inventarios Activos contractuales Cuentas comerciales y otras cuentas por cobrar Cuentas por cobrar por impuestos corrientes Efectivo y equivalentes de efectivo |
7
10 |
0.5 84.2 52.9 0.2 29.3 |
0.5 54.3 55.3 - 22.5 |
Total de activos corrientes | 167.1 | 132.6 | |
los activos totales | 219.4 | 181.3 | |
Pasivo circulante préstamos bancarios Pasivos contractuales Comerciales y otras cuentas a pagar Obligaciones bajo arrendamiento |
8 |
(10.0) (7.2) (126.1) (2.6) |
(15.0) (7.7) (96.1) (2.7) |
Total pasivo corriente | (145.9) | (121.5) | |
Activos corrientes netos | 21.2 | 11.1 | |
Pasivos no corrientes Obligaciones bajo arrendamiento Comerciales y otras cuentas a pagar Obligaciones por beneficios de jubilación |
8 9 |
(5.2) (3.1) (11.8) |
(5.7) (2.5) (12.9) |
Total pasivo no corriente | (20.1) | (21.1) | |
Pasivos totales | (166.0) | (142.6) | |
Activos netos | 53.4 | 38.7 | |
Patrimonio atribuible a los propietarios de la matriz Capital social Compartir premium Reserva de revalorización Ganancias retenidas |
5.3 13.6 - 34.5 |
4.4 4.4 0.4 29.5 | |
Equidad total | 53.4 | 38.7 |
Estado consolidado de flujos de efectivo
Por el año terminado el 31st Diciembre 2023
2023 | 2022 | |||
Note | £ m | £ m |
| |
Efectivo neto generado por / (utilizado en) actividades operativas | 10 | 8.7 | 10.6 |
|
Actividades de inversión Compra de propiedad, planta y equipo |
(0.5) |
(1.8) |
| |
Ingresos por enajenación de propiedades, planta y equipo | 0.7 | - |
| |
Efectivo neto utilizado en actividades de inversión | 0.2 | (1.8) |
| |
Actividades de financiación Nuevas acciones emitidas Pago interesado Reembolso de préstamos Reembolso de obligaciones de arrendamiento Dividendos de capital pagados Acciones asignadas con respecto a esquemas de opciones sobre acciones Tarifa de instalación pagada Adquisición de acciones por ESOT |
|
10.1 (1.0) (5.0) (2.9) (2.5) - - (0.8) |
- (0.5) - (2.1) (2.3) 0.2 (0.3) (1.6) |
|
Efectivo neto utilizado en actividades de financiación. | (2.1) | (6.5) |
| |
Aumento / (disminución) neto de efectivo y equivalentes de efectivo Efectivo y equivalentes de efectivo al inicio del año |
10 | 6.8 22.5 | 2.2 20.3 |
|
Efectivo y equivalentes de efectivo al final del año | 10 | 29.3 | 22.5 |
|
Estado de cambios en el patrimonio neto consolidado
Por el año terminado el 31st Diciembre 2023
| |||||
Compartir | Compartir | Revalorización | retenido | Total | |
capital | producto de más alta calidad. | reserva | ganancias | Equidad | |
£ m | £ m | £ m | £ m | £ m | |
A 1 de enero de 2022 | 4.4 | 4.2 | 0.7 | 17.2 | 26.5 |
Ingresos integrales | |||||
Ganancias del año | - | - | - | 8.4 | 8.4 |
Otro gasto integral | |||||
Remeasurement gain on retirement benefit obligation | - | - | - | 9.2 | 9.2 |
Deferred income tax on remeasurement gain on retirement benefit obligation | - | - | - | (2.4) | (2.4) |
Revalorización de la propiedad absoluta | - | - | (0.2) | - | (0.2) |
Total de otros resultados integrales | - | - | (0.2) | 6.8 | 6.6 |
Total de ingresos integrales | - | - | (0.2) | 15.2 | 15.0 |
Transacciones con propietarios | |||||
Transferencia por depreciación de propiedad absoluta | - | - | (0.1) | 0.1 | - |
Gastos de pago basados en acciones | - | - | - | 0.8 | 0.8 |
Adquisición de acciones por ESOT | - | - | - | (1.6) | (1.6) |
Acciones asignadas con respecto a esquemas de opciones sobre acciones | - | 0.2 | - | - | 0.2 |
Costo de la opción SAYE | - | - | - | 0.1 | 0.1 |
Dividendos pagados | - | - | - | (2.3) | (2.3) |
Total de transacciones con propietarios | - | 0.2 | (0.1) | (2.9) | (2.8) |
En 31st Diciembre 2022 | 4.4 | 4.4 | 0.4 | 29.5 | 38.7 |
Ingresos integrales | |||||
Ganancias del año | - | - | - | 6.5 | 6.5 |
Otro resultado integral | |||||
Remeasurement gain on retirement benefit obligation | - | - | - | 0.2 | 0.2 |
Deferred income tax on remeasurement gain on retirement benefit obligation | - | - | - | (0.1) | (0.1) |
Revalorización de la propiedad absoluta | - | - | (0.4) | (0.1) | (0.5) |
Total de otros resultados integrales | - | - | (0.4) | - | (0.4) |
Total de ingresos integrales | - | - | (0.4) | 6.5 | 6.1 |
Transacciones con propietarios | |||||
New shares issued in the year | 0.9 | 9.2 | - | - | 10.1 |
Gastos de pago basados en acciones | - | - | - | 1.7 | 1.7 |
Transactions in own shares in respect of share awards | - | - | - | (0.8) | (0.8) |
Costo de la opción SAYE | - | - | - | 0.1 | 0.1 |
Dividendos pagados | - | - | - | (2.5) | (2.5) |
Total de transacciones con propietarios | 0.9 | 9.2 | - | (1.5) | 8.6 |
En 31st Diciembre 2023 | 5.3 | 13.6 | - | 34.5 | 53.4 |
Notas a la información financiera preliminar
Nota 1 - Base de preparación
TClarke plc es una sociedad anónima que cotiza en la Bolsa de Valores de Londres, constituida y domiciliada en el Reino Unido. La naturaleza de las operaciones del Grupo y sus principales actividades es la prestación de servicios de contratación eléctrica y mecánica y servicios relacionados a la industria de la construcción ya los usuarios finales. La Compañía está limitada por acciones.
Los estados financieros incluidos en este anuncio preliminar han sido preparados de acuerdo con las Reglas de Divulgación y Transparencia de la Autoridad de Conducta Financiera del Reino Unido y los principios de las normas internacionales de contabilidad adoptadas por el Reino Unido, pero no cumplen con todos los requisitos de divulgación de estas normas. La información financiera para el año que finalizó el 31 de diciembre de 2022 se deriva de los estados financieros legales para ese año que se entregaron al Registro de Empresas. El auditor informó sobre esos estados financieros: su informe no tenía salvedades, no llamó la atención sobre ningún asunto a modo de énfasis y no contenía una declaración según s498(2) o (3) de la Ley de Sociedades de 2006. La información financiera ha sido preparado sobre la base de un negocio en marcha bajo la convención de costo histórico modificada por la revaluación de terrenos y edificios.
La información financiera no auditada contenida en este anuncio no constituye los estados financieros legales del Grupo al y para el año finalizado el 31 de diciembre de 2023, sino que se deriva de dichos estados financieros, que han sido preparados de acuerdo con las normas internacionales de contabilidad adoptadas por el Reino Unido. . Los estados financieros en sí mismos serán aprobados por la Junta Directiva e informados por el auditor y luego entregados al Registrador de Empresas después de la Asamblea General Anual de la Compañía. En consecuencia, la información financiera de 2023 se presenta como no auditada en este comunicado.
Nota 2 - Estimaciones contables significativas
En la aplicación de las políticas contables del Grupo, los Administradores están obligados a realizar estimaciones y supuestos sobre los importes en libros de los activos y pasivos a la fecha del informe y los importes de los ingresos y gastos
incurridos durante el período que pueden no ser fácilmente evidentes de otras fuentes. Las estimaciones y supuestos asociados se basan en la experiencia histórica y otros factores que se consideran relevantes. Los resultados reales pueden diferir de estas estimaciones.
Las estimaciones y los supuestos subyacentes se revisan de forma continua. Las revisiones a las estimaciones contables se reconocen en el período en el que se revisa la estimación si la revisión afecta solo a ese período, o en el período de la revisión y los períodos futuros si la revisión afecta tanto a los períodos actuales como a los futuros.
The estimates and assumptions that have the most signi?cant impact are set out below.
Reconocimiento de ingresos y ganancias por contratos de construcción
Para determinar el reconocimiento de ingresos y ganancias con respecto a los contratos de construcción del Grupo, el Grupo tiene que estimar los costos totales para entregar el contrato, así como el valor final del contrato. El Grupo tiene que distribuir los costos totales esperados entre la cantidad incurrida en el contrato al final del período sobre el que se informa y la proporción a completar en un período futuro. La evaluación de los costos totales en los que se incurrirá y el valor final del contrato requiere cierto grado de juicio y estimación.
El valor final del contrato puede incluir evaluaciones de la recuperación de variaciones contractuales que aún no se han acordado con el cliente, así como montos adicionales de reclamos de compensación. El monto de las variaciones y reclamaciones a menudo no se acuerda por completo con el cliente debido al tiempo y los requisitos del proceso contractual normal. Por lo tanto, las evaluaciones se basan en una estimación del impacto del costo potencial de las reclamaciones de compensación y los ingresos se limitan a los montos que el Grupo cree que es muy probable que se reciban. La estimación de los costos para completar se basa en toda la información relevante disponible y puede incluir estimaciones de posibles responsabilidades por defectos o daños liquidados por alcance no acordado o variaciones de tiempo. Los costos incurridos antes del contrato que son directamente atribuibles al contrato también pueden incluirse como parte de los costos totales para completar el contrato.
Retirement Bene?t Obligations
El coste del plan de pensiones de prestaciones definidas y el valor actual de la obligación por pensiones se determinan utilizando valoraciones actuariales. Una valoración actuarial implica hacer varias suposiciones que pueden diferir de los desarrollos reales en el futuro. Estos incluyen la determinación de la tasa de descuento, futuros incrementos salariales, tasas de mortalidad y futuros incrementos de pensiones. Debido a las complejidades involucradas en la valuación y su naturaleza a largo plazo, una obligación por beneficios definidos es altamente sensible a cambios en estos supuestos. Todos los supuestos son revisados en cada fecha de reporte, siguiendo el consejo de actuarios independientes. Los detalles de los supuestos clave se establecen en la nota 9.
La valoración es más sensible a los cambios en el supuesto de la tasa de descuento. Al determinar la tasa de descuento apropiada, el Grupo considera las tasas de interés de los bonos corporativos, extrapoladas según sea necesario a lo largo de la curva de rendimiento para que correspondan con el plazo esperado de la obligación por beneficios definidos. La tasa de mortalidad se basa en tablas de mortalidad disponibles públicamente. Estas tablas de mortalidad tienden a cambiar solo a intervalos en respuesta a los cambios demográficos. Los futuros aumentos salariales y de pensiones se basan en las tasas de inflación futuras previstas.
Nota 3 - Información por segmento
(i) Change in operating segments
The Group provides electrical and mechanical contracting and related services to the construction industry and end users. At the beginning of the year the Group changed its internal management reporting, moving away from the previous geographic split of segments, and adopting one operating segment. In delivering the Board's growth strategy, including focusing on winning large projects outside of London, the previous split ceased to be fully representative of the way the Group operates, with contracts often being won through entity-wide relationships or delivered outside of a segment's geographic footprint. As such, the Board, in its role as 'chief operating decision-maker', now only receives financial information for the Group as a whole, representing the Group's one operating
segment and discrete financial information is no longer prepared at a more disaggregated level.
This approach has also been reflected in the preparation of this financial information which as a result no longer require separate segmental analysis, as it is only at a Group level where the definition of an operating segment is met and this information is shown in the primary statements themselves.
(ii) Revenue analysis
2023 | 2022 | |
£ m | £ m | |
Sector empresarial | ||
Gestión de Instalaciones | 37.1 | 31.3 |
EN LA MINA | 101.8 | 79.5 |
Servicios de Ingenieria | 193.5 | 124.7 |
Residencial y hoteles | 48.1 | 45.3 |
Tecnologías | 110.5 | 145.2 |
Los ingresos totales | 491.0 | 426.0 |
Nota 4 - Tributación
2023 | 2022 | |
£ m | £ m | |
Gasto por impuesto corriente | ||
Impuesto de sociedades del Reino Unido pagadero sobre las ganancias del año | 1.3 | 1.7 |
Ajuste en relación a años anteriores | (0.5) | (0.4) |
Gasto por impuestos diferidos | ||
Surgido en: | ||
Ajuste en relación a años anteriores | 0.1 | - |
Originación y reversión de diferencias temporales | 0.2 | 0.6 |
Gasto total por impuesto sobre la renta | 1.1 | 1.9 |
Conciliación de la carga fiscal | ||
Beneficio antes de impuestos del año | 7.6 | 10.3 |
Impuesto a la tasa impositiva estándar del Reino Unido del 23.52 % (2022: 19 %) | 1.8 | 1.9 |
Efecto fiscal de: | ||
Ajuste en relación a años anteriores | (0.4) | (0.4) |
Elementos rechazados permanentemente | (0.3) | 0.4 |
Gasto total por impuesto sobre la renta | 1.1 | 1.9 |
2023 | 2022 | |
£ m | £ m | |
Impuesto diferido con cargo a otro resultado integral | 0.1 | 2.4 |
Nota 5 - Beneficio por acción
(i) Ganancia básica por acción
La utilidad básica por acción se calcula dividiendo la utilidad atribuible a los propietarios de la Compañía entre el número promedio ponderado de acciones ordinarias en circulación durante el año.
2023 | 2022 | |
£ m | £ m | |
Ganancias: | ||
Beneficio atribuible a los propietarios de la Compañía | 6.5 | 8.4 |
Promedio ponderado de acciones ordinarias en circulación (miles) | 47,119 | 43,056 |
Ganancias básicas por acción | 13.75p | 19.60p |
(ii) Ganancia por acción diluida
Las ganancias por acción diluidas se calculan ajustando el número promedio ponderado de acciones ordinarias en circulación para asumir la conversión de todas las opciones sobre acciones ordinarias potenciales dilutivas otorgadas bajo los esquemas Save As You Earn.
Para las opciones sobre acciones, se realiza un cálculo para determinar el número de acciones que podrían haberse adquirido a su valor razonable (determinado como el precio promedio anual de mercado de las acciones de la Compañía) con base en el valor monetario de los derechos de suscripción adjuntos a las acciones en circulación. opciones El número de acciones calculado como se indica arriba se compara con el número de acciones que se habrían emitido suponiendo el ejercicio de las opciones sobre acciones.
2023 | 2022 | |
£ m | £ m | |
Ganancias: | ||
Beneficio atribuible a los propietarios de la Compañía | 6.5 | 8.4 |
Promedio ponderado de acciones ordinarias en circulación (miles) | 47,119 | 43,056 |
Ajustes: | ||
Planes de opciones sobre acciones relacionados con ahorros | 88 | 187 |
Promedio ponderado de acciones ordinarias por utilidad diluida por acción (miles) | 47,207 | 43,243 |
Ganancias diluidas por acción | 13.73p | 19.51p |
Nota 6 - Dividendos
2023 £ m | 2022 £ m | |
Dividendo complementario de 4.1p (2022: 4.1p) por acción ordinaria pagado durante el año en relación con los resultados del año anterior |
1.8 |
1.8 |
Dividendo a cuenta de 1.375p (2022: 1.25p) por acción ordinaria pagado durante el año | 0.7 | 0.5 |
Total | 2.5 | 2.3 |
Los directores proponen un dividendo final de 4.525 peniques (2022: 4.1 peniques) por acción ordinaria por un total de £ 2.4 millones (2022: £ 1.8 millones). El dividendo no se ha devengado a la fecha del informe.
Subject to approval at the Annual General Meeting, the final dividend will be paid on 14th June 2024 to shareholders on the register as at 17th Mayo de 2024. Las acciones saldrán sin dividendo el 16th Mayo 2024. Se pone a disposición de los accionistas un plan de reinversión de dividendos. Aquellos accionistas que no hayan elegido participar en el plan, y que deseen hacerlo con respecto al pago final de 2023, pueden hacerlo comunicándose con Link Group al 0371 664 0381. El último día para la elección de la reinversión del dividendo final es 24th el Día Internacional del Trabajo.
Nota 7 - Deudores comerciales y otras cuentas por cobrar
2023 | 2022 | |
£ m | £ m | |
Cuentas comerciales por cobrar - brutas | 38.8 | 36.7 |
Trade receivables - allowances for credit losses | (0.2) | (0.4) |
Cuentas por cobrar comerciales netas | 38.6 | 36.3 |
Other receivables (including retentions) - gross | 26.2 | 24.7 |
Other receivables (including retentions) - allowances for credit losses | (0.8) | (0.9) |
Net other receivables (including retentions) | 25.4 | 23.8 |
Prepagos | 0.9 | 1.5 |
Total | 64.9 | 61.6 |
Trade and other receivables are analysed as follows on the statement of financial position:
2023 | 2022 | |
£ m | £ m | |
Activos circulantes | 52.9 | 55.3 |
Activos no corrientes | 12.0 | 6.3 |
Total | 64.9 | 61.6 |
Nota 8 - Acreedores comerciales y otras cuentas por pagar
2023 | 2022 | |
£ m | £ m | |
Current Trade payables (including retentions) Otros impuestos y seguridad social Acumulaciones |
65.8 3.2 56.3 |
51.5 6.4 37.7 |
Otras cuentas por pagar | 0.8 | 0.5 |
Total | 126.1 | 96.1 |
No corriente Trade payables (including retentions) |
3.1 |
2.5 |
Total | 3.1 | 2.5 |
Nota 9 - Compromisos por pensiones
El valor presente de la obligación por beneficios definidos, el costo del servicio actual relacionado y el costo del servicio pasado se midieron usando el método de crédito unitario proyectado. Los importes reconocidos en el estado de situación financiera consolidado son los siguientes:
2023 | 2022 | |
£ m | £ m | |
Valor presente de las obligaciones financiadas | 42.3 | 40.6 |
Valor razonable de los activos del plan | (30.5) | (27.7) |
Déficit de planes financiados | 11.8 | 12.9 |
The key assumptions used to value the pension scheme liability are set out below:
2023 | 2022 | |
% | % | |
Tasa promedio de incremento de salarios | 3.07 | 3.26 |
Tasa de aumento de las pensiones en pago | 2.94 | 3.05 |
Tasa de descuento | 4.51 | 4.77 |
Supuesto de inflación (RPI) | 3.00 | 3.12 |
Supuesto de inflación (IPC) | 2.57 | 2.76 |
The mortality assumptions used in the valuation were: | ||
2023 | 2022 | |
Años | Años | |
Esperanza de vida a los 65 años para los actuales pensionistas | ||
? -? Men | 21.0 | 21.2 |
? -? Women | 23.0 | 23.2 |
Esperanza de vida a los 65 años para los futuros pensionistas (edad actual 45) | ||
? -? Men | 22.0 | 22.1 |
? -? Women | 24.1 | 24.3 |
Nota 10 - Notas al estado de flujos de efectivo
(i) Reconciliation of operating profit to net cash generated from operating activities
2023 | 2022 | |
£ m | £ m | |
Beneficio operativo | 9.4 | 11.5 |
Cargo de depreciación | 3.1 | 3.0 |
Equity-settled share-based payment net expense | 1.8 | 0.8 |
Pension deficit reduction contribution | (1.3) | (1.5) |
Defined benefit pension scheme credit | (0.1) | (0.7) |
Flujos de efectivo operativos antes del movimiento en el capital de trabajo | 12.9 | 13.1 |
Movimiento de inventarios | - | (0.1) |
(Increase)/decrease in contract balances | (30.4) | 2.2 |
(Aumento) / disminución en operaciones comerciales y otras cuentas por cobrar | (3.7) | (3.8) |
Aumento / (disminución) en operaciones comerciales y otras cuentas por pagar | 30.3 | 0.8 |
Efectivo generado por operaciones | 9.1 | 12.2 |
Impuesto de sociedades pagado | (0.5) | (1.6) |
Interés recibido | 0.1 | - |
Efectivo neto generado por actividades operativas | 8.7 | 10.6 |
(ii) Efectivo y equivalentes de efectivo
El efectivo y equivalentes de efectivo comprenden el efectivo en bancos y otras inversiones a corto plazo altamente líquidas que son fácilmente convertibles en efectivo, menos los descubiertos bancarios, y se analizan como sigue:
2023 | 2022 | |
£ m | £ m | |
Efectivo y equivalentes de efectivo | 29.3 | 22.5 |
El efectivo neto después de deducir los préstamos totales fue el siguiente:
2023 | 2022 | |
£ m | £ m | |
Efectivo y equivalentes de efectivo | 29.3 | 22.5 |
Menos préstamos | (10.0) | (15.0) |
El efectivo neto | 19.3 | 7.5 |
Nota 11 - Transacciones con partes relacionadas
(i) Personal gerencial clave
El personal directivo clave del Grupo está compuesto por miembros del Consejo de Administración de TClarke plc y del Consejo de Administración del Grupo. La remuneración del personal clave de la gerencia es la siguiente:
2023 | 2022 | |
£ m | £ m | |
Beneficios a corto plazo | 4.2 | 4.4 |
Pagos basados en acciones | 1.7 | 1.5 |
Beneficios para empleados post-empleo | 0.1 | - |
Total | 6.0 | 5.9 |
En el informe de remuneración de los Consejeros del último informe anual se incluye información adicional, incluidos los detalles del Consejero mejor pagado.
Las transacciones entre la Compañía y sus empresas subsidiarias, que son partes relacionadas, se eliminaron en la consolidación y no se revelan en esta nota. No hubo otras transacciones con partes relacionadas que requieran divulgación.
Note 12 - Contingent liabilities
Group banking facilities of £30m and surety bond facilities of £70m are supported by cross guarantees given by the Company and participating companies in the Group. All operating companies within the Group are included within the Group banking arrangement, and National Westminster Bank plc has a floating charge over the assets of the Group. There are contingent liabilities in respect of surety bond facilities, guarantees and collateral warranties under contracting and other arrangements entered into in the normal course of business.
As part of a Group reorganisation, a subsidiary company, TClarke Services Limited, became the principal employer of the scheme with effect from 23rd December 2016, and the pension scheme liability and related deferred tax asset were transferred to TClarke Services Limited at that date. The Company and its subsidiary, TClarke Contracting Limited, have provided a guarantee to the trustees of the scheme in respect of TClarke Services Limited's obligations to the pension scheme.
Nota 13 - Hechos posteriores
No hubo eventos posteriores que afectaron los estados financieros del Grupo.
RNS puede usar su dirección IP para confirmar el cumplimiento de los términos y condiciones, para analizar cómo interactúa con la información contenida en esta comunicación y para compartir dicho análisis de forma anónima con otros como parte de nuestros servicios comerciales. Para obtener más información sobre cómo RNS y la Bolsa de Valores de Londres utilizan los datos personales que nos proporciona, consulte nuestra Política de privacidad.