Shares in building services firm T. Clarke PLC (LSE:CTO) fell over 8% on Thursday as news of the group’s order book value hitting a record failed to reassure investors in light of wider market concern.
Though TClarke noted in a trading update that its order book now exceeds £1.1 billion, the firm also said it has switched some supply partners and rejigged contracts due to concerns.
As a result, operating profit should come in between £9 million and £10 million for the full year, the company forecast, marking a fall on 2022’s figure by as much as 22%.
“Notwithstanding the strength of the company's forward order book, the group is cognizant that the turbulent prevailing construction sector environment is impacting a number of market participants,” TClarke said.
Shares fell 8.66% to 116.68p.