Provided by Construction Enquirer.
Building services contractor T Clarke has warned that main contractors are increasingly stalling full account settlement on jobs.
Despite problems with full and final payment, the specialist contractor said there were now clear signs that the M&E sector was emerging from the challenging period which saw extensive consolidation.
In a trading update the T Clarke said: “Current trading continues to meet the board’s expectations.
“However, we are finding it increasingly challenging to agree final accounts promptly.
“The timing of final account payments will determine our year end cash position, but in the meantime our balance sheet strength enables us to take a robust approach to contract negotiations.”
Clarke said current tendering activities remained high several major schemes due for construction start in 2014.
Its forward order book is 12% up against the same time last year at £252m.
“The board is cautiously optimistic that from the latter part of 2014, we will finally begin to see margin improvements within the business,” said the specialist contractor.
Recent M&E project wins
· 450 South Oak Way, Reading, Office Development
· BBC Project Vesta, White City London
· Bush House, Refurbishment of Former BBC World Service HQ, London
· Deutsche Bank, Birmingham and London
· DuPuy Synthes, Manufacturing Facility, Leeds
· Homerton Hospital, London
· Newlands Primary School, Leeds
· Park Royal Fire Training Facility, London
· Peterborough Football Club, Moy’s End Stand
· Refurbishment of Santander Offices, Leeds
· South Tyneside College, Tyne and Wear
· Sudbury Health Centre, Suffolk
· Westfield London, Original Retail Mall Extension
· Barratt Homes developments, Clydebank, Scotland
· Cala Homes at Fairmilehead, Edinburgh
· Millbay Apartments, Plymouth
· Riverwalk House – Shell and Core, London
· Taylor Wimpey developments, Motherwell and Bilston, Scotland
· First Bus, Glasgow
· London Overground, Silwood Sidings, London
· DLR Asset Renewals Phase 2