The Lemon Fool

Trading Update

https://www.investegate.co.uk/tclarke-p ... 00065266X/

Building services company and contractor. Order book at new highs.

Low margin, and low(ish) return on capital as a result, but cheaply rated. For those to whom it matters it pays a relatively high dividend too despite the recent rise in share price.

Disclosure: long.

Trading Update

https://www.investegate.co.uk/tclarke-p ... 00025100T/

In line with expectations for the full year. But don't stop reading. Or you might miss ...

As a result of the continued strength of the Group's forward order book and the proportion of the order book already secured for 2022, the Board now expects revenue for the year ended 31 December 2022 to be ahead of market expectations at £410m.

Another pleasing piece of news from a share I own.

This is an outlier. How did you come across it?

V8

88V8 wrote:This is an outlier. How did you come across it?

V8

I first came across it as a special situation opportunity I think about 4-5 years ago following a fraud at one of its regional offices. From memory the shares got trashed, but the fraud was limited to a single region, and the perpetrator had been found and there was a good chance they would recover the funds.

Since then they have deliberately sought higher margin, niche, returns within the construction industry. The share price has more than doubled since against a FTSE that's barely gone anywhere.