Investor Pack1

Investor PackInterim Results for the Six Months Ending 30th June 2009

Presentation Team

Victoria FrenchFinance Director &Company Secretary

Mark LawrenceManaging Director

Pat StanboroughChief Executive

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Company Secretary

The Company

The UK’s Premier Electrical Contractor

Founded 1889ou ded 889

Listed since 1946 on the London Stock Exchange

12 Group Companies

Operating from 13 Locations across the UK

1400 Directly Employed Operatives

300 Apprentices

3

Review of Operations

Review of groups regional operations in line with continued slowdown.

Kestrel, Warley – To be sold. GDI, Altrincham – To be closed

Future Focus to target Major City Centres and Key Regional Locations

UK to be split into three operating divisions

4In progress the London 2012 Olympic Stadium

Creation of North, South & Scotland Divisions

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Highlights – 6 months ended 30th June 2009

G £95 8 (30th J 2008 £109 3 )Group revenue £95.8m (30th June 2008: £109.3m)

Profit before taxation £3.1m (30th June 2008: £5.4m)

Profit before tax margin 3.2% (30th June 2008: 5.0%)

Closure or disposal of two regional subsidiaries

Effective management of cost base

Earnings per share 5.3p (30th June 2008: 9.53p)Earnings per share 5.3p (30th June 2008: 9.53p)

Robust order book £170m (30th June 2008: £230m)

N t h t t £24 0 (31 t D b 2008 £30 4 )Net cash strong at £24.0m (31st December 2008: £30.4m)

Interim dividend maintained at 4.25 pence per share

6Board confirm intention to maintain final dividend

Key financials – 6 months ended 30th June 2009

Group 30 June 2009 30 June 2008 31 Dec 2008£m £m £m

Revenue 95.8 109.3 223.7

Operating profit 3 1 5 2 12 6Operating profit 3.1 5.2 12.6

Operating profit margin 3.2% 4.8% 5.6%

Underlying operating profit* 4.5 * 5.2 14.4 **

Underlying operating profit margin* 4.7% * 4.8% 6.4% **

Profit before tax 3.1 5.4 13.4

EPS 5.3p 9.53p 22.12p

Dividend 4.25p 4.25p 13.0p

O de book 170 230 160

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Order book 170 230 160

* Before restructuring and redundancy costs of £1.4m for the six months to 30th June 2009** Before goodwill impairment of £1.8m for the 12 months to 31st December 2008

London Operations – 6 months ended 30th June 2009

London 30 June 2009 30 June 2008 31 Dec 2008£m £m £m

Revenue 40.5 45.2 102.1

Operating profit 1.5 2.3 9.8 **

Operating profit margin 3 7% 5 1% 9 6% **Operating profit margin 3.7% 5.1% 9.6% **

Underlying operating profit* 2.6 * 2.3 9.8

Underlying operating profit margin* 6.4% * 5.0% 9.6%

Profit before tax 1.5 2.4 10.4

Order book 100 135 75

* f £ f d d d f h h 30 h 2009

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* Before £1.1m of redundancy costs and provisions for the six months to 30th June 2009** Higher margins due to favourable contract completions in 12 months to 31st December 2008

UK Regions – 6 months ended 30th June 2009

Regions 30 June 2009 30 June 2008 31 Dec 2008£m £m £m

Revenue 55.3 64.2 121.6

Operating profit 1.4 2.7 2.4

O ti fit i 2 5% 4 2% 2 0%Operating profit margin 2.5% 4.2% 2.0%

Underlying operating profit* 1.7 * 2.3 4.2 **

Underlying operating profit margin* 3.0% * 3.6% 3.5% **

Profit before tax 1.4 2 8 2 6Profit before tax 1.4 2.8 2.6

Order book 70 95 85

9* Before £0.3m of redundancy costs and provisions for the six months to 30th June 2009

** Before goodwill impairment of £1.8m for 12 months to 31st December 2008

Property division – 6 months ended 30th June 2009

Property 30 June 2009 30 June 2008 31 Dec 2008

£m £m £m

Operating profit 0.2 0.2 0.4

Weylex holds freehold properties

Partial disposal Derby property - £850k cash

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Cashflow

30 June 2009 30 June 2008 31 Dec 2008

£m £m £m

Operating cash flows before p gmovements in working capital 3.2 5.5 15.0

Working capital movement (4.2) 9.7 14.72008 increase in creditors; decrease in debtors

Operating cash (outflow) / inflow (1.0) 15.2 29.7

Corporation tax (2.6) (1.5) (3.2)

Net interest 0.1 0.2 0.8

Net receipts/(purchases) fixed assets 0 8 (0 3) (0 7)2009 partial disposal Derby property: £0 8m receiptNet receipts/(purchases) fixed assets 0.8 (0.3) (0.7) property: £0.8m receipt

Cash (outflow) / inflow (2.7) 13.6 26.5

Dividends paid (3.5) (3.2) (4.9)

Finance leases (0 2) (0 1) (0 2)Finance leases (0.2) (0.1) (0.2)

Net cash (outflow) / inflow (6.4) 10.3 21.4

Opening net cash 30.4 9.0 9.0

Closing net cash 24 0 19 3 30 4

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Closing net cash 24.0 19.3 30.4

Balance sheet

30 June 2009 30 June 2008 31 Dec 2008

£m £m £m £m £m £m

Goodwill 12 6 14 4 12 6 £1 8m goodwill write off in 2008Goodwill 12.6 14.4 12.6 £1.8m goodwill write off in 2008

Property, plant & equipment 6.7 7.7 7.7

19.2 22.0 20.3

Inventories and construction contracts 16.2 15.3 11.5

Debtors 14.9 23.4 14.2

Net cash 24.0 19.3 30.4

Creditors (42.1) (49.0) (40.9)Working capital improved from

Working capital 13.0 9.0 15.2Working capital improved from June 2008 to December 2008

Capital employed 32.3 31.0 35.6

Retirement benefit obligation (3.7) (2.3) (1.9)Increase in pension liability ‐partly due to assumptions

Tax (1.2) (1.7) (2.9)

12Other liabilities (0.3) (0.3) (0.4)

Net assets 27.1 26.8 30.3

5 Year Record – 6 months ended 30th June 2009

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Six Months to 30th June Turnover Analysis – by Company

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Six Months to 30th June Turnover Analysis – by Sector

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Current Projects in London

Regents Place, London - British Land

Central Saint Giles, London - StanhopeCentral Saint Giles, London Stanhope

One New Change, London - Land Securities

The Pinnacle, London - Arab Investments

Stratford City, London – Westfield

2012 Olympic Stadium, London - Team Stadium

16The Pinnacle

Current Projects Across the UK

5 Year Measured Term Contract renewed July 2009, USAF Bases5 Year Measured Term Contract renewed July 2009, USAF Bases

New Data Centre, Kent

University of Bedfordshire Phase 1B, Luton

Gateshead Leisure Centre, Gateshead

Longbenton Campus, North Tyneside

Northern Ballet HQ, Leeds, Leeds City Council

Northern Ballet,Leeds

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Opportunities

OPPORTUNITY Nomura – Watermark PlaceNomura Watermark Place

CURRENT BID - Quadrant 3

OPPORTUNITYCURRENT BID

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OPPORTUNITY Cross Rail Station, Canary WharfBid due Autumn 2009

The Heron, Moorgate

Future Opportunities

CURRENT BID - Park House, W1 CURRENT BID – Selborne House, SW1

19IN PLANNING - Arundel Great Court

Future Opportunities

National Indoor Sports Arena and Sir Chris Hoy VelodromeNational Indoor Sports Arena and Sir Chris Hoy Velodrome

Building Schools for the Future - Birmingham & BristolBuilding Schools for the Future - Birmingham & Bristol

Anglian Ruskin University Cambridge

University of East Anglia Academic Building Phase 2

Oxford Brookes University, New Student Centre Building

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New Student Centre Building

Outlook

Increased tendering activity, but increased number of bidders per project

Highly competitive market

Activity in commercial office sector driven by Land Securities & StanhopeActivity in commercial office sector driven by Land Securities & Stanhope

Further opportunities at the Olympic Park and associated venues

Targeting funded projects such as Prisons, Schools & Healthcare

Continue to develop & explore other sectors such as Rail and TechnologiesContinue to develop & explore other sectors such as Rail and Technologies

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Strategy

Succession plan announcedSuccession plan announced

Steps taken to slim down group businesses, confident group will emerge s stronger ready for future opportunitiess stronger ready for future opportunities

Continue to build upon existing relationships

Future Focus to target Major City Centres and Key Regional Locations

UK to be split into three operating divisions

To grow the business as opportunities ariseg pp

Take the group forward in good shape with a strong balance sheet.

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Appendices

AppendicesAppendices

Appendix 1, Current Opportunities and Current Projects

Appendix 2, Health and Safety & Training

Appendix 3, plc Board StructureAppendix 3, plc Board Structure

Appendix 4, Principle Shareholders

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Appendix One

Current Opportunities 24Current Projects

London 2012

IN PROGRESSOlympic Stadium for London 2012Due For Completion Spring 2011

CURRENT BID - The Olympic VillageProgramme 2009 - 2012

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Major Developments

SECURED - The Pinnacle

The City of London’s Tallest Commercial BuildingThe City of London’s Tallest Commercial Building

£45M, Programme 2009 – 2012 - DESIGN WORKS COMMENCED

IN PROGRESS Central Saint GilesIN PROGRESS – Central Saint Giles

£8M, Due For Completion December 2009

26IN PROGRESS – One New Change

£15M, Programme 2009 - 2011

Major Developments

IN PROGRESS – Regents Place£8M, Due for Completion December 2009

COMPLETED – Ropemaker Place£12M, Completion May 2009

OPPORTUNITY – Future Fit Out – Bank Tokyo

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Greenwich Peninsula

IN PROGRESS – Ravensbourne CollegeDue for Completion Summer 2010

IN PROGRESS Pier Walk, Pre let to TfL Completed April 2009

Mit P d f A t 2009Mitre Passage due for Autumn 2009

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Westfield, Stratford City

IN PROGRESS – Stratford City£25M, Planned Completion 2011

OPPORTUNITYJohn Lewis department store witha new Waitrose as anchors toWestfield's Stratford City retailproject

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project.

Rail – Current Projects and Opportunities

IN PROGRESSIN PROGRESS

DLR Three Car Capacity Project

BIDS SUBMITTED

Vi t i St ti L d U d dVictoria Station, London Underground

Thameslink Train Maintenance Depots

Tottenham Court Road, Cross Rail Station

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Scotland

SECUREDSECURED Residential Projects for Persimmon Homes

Larbert, Stirling

SECURED Residential Projects for Barratt Homes

k hiLanarkshire 12 Month Contract

Ayrshire16 M h C16 Month Contract

SECUREDMidlothian Community HospitalDevelopment of a 7000m² community hospital

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Development of a 7000m² community hospital

Leeds

SECUREDDiana, Princess of Wales Hospital

SECURED

HMP Hull

OPPORTUNITIES

HMP Acklington

HMP Buckley Hall

32SECURED - Northern Ballet Theatre, Leeds

Newcastle

SECURED

Longbenton Community College, Newcastle

Net Park SedgefieldNet Park, Sedgefield

OPPORTUNITIES

New Bridge StreetNew Bridge Street Student Accommodation, Newcastlee cast e

Felling & Dunston Pools, Gateshead

COMPLETED E l i A d N tl

Tolent Offices, York

Building Schools for the Future BSF Newcastle

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Excelsior Academy, Newcastle Future BSF, Newcastle

The South West & Bristol

SECURED PROJECTSSECURED PROJECTS

Edginswell Business Park, Torquay Brixham Fish Harbour,Brixham St Mewan School St AustellSt Mewan School, St Austell Penwith College, Penzance

COMPLETED Gloucester Quays Shopping Centre

COMPLETED Callington

Community CollegeOPPORTUNITIES

Gloucester Quays Shopping Centre

y gOPPORTUNITIES

Aspire Defence, Tidworth base and Bulford bases Bristol Schools regeneration Birmingham Schools (recently secured by Bovis/Catalyst)Birmingham Schools (recently secured by Bovis/Catalyst) University of Bath, East Building Bridgwater College, Energy Skills Centre Castle School Taunton

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Castle School, Taunton RAF St Athen, South Wales

Huntingdon

SECURED

Scalford Court Care Home, Melton Mowbray

Genetics Research Station, Madingley Cambridge

Lord Grey School, Milton Keynes

Cloister Court Sidney Sussex College, Cambridge

l h h l b hSt Botolphs Primary School, Peterborough

OPPORTUNITIES COMPLETEDOPPORTUNITIES

Broadfield House, Boston Lincolnshire

Burrough Green Primary School Newmarket

COMPLETED

Loxford Polyclinic, South Ilford

Burrough Green Primary School, Newmarket

Decent Homes Programme for Norwich City Council

Cambridgeshire County Council Schools Framework Contract

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Cambridgeshire County Council Schools Framework Contract

Appendix Two

Training & Health & Safety36

Training & Health & Safety

Apprenticeship Training

The Prime Minister, Gordon Browni iti th Ol i St di ivisiting the Olympic Stadium in

January, meets two T.Clarkeapprentices Hayley Phippen andMax Warnock along with ODACh i J h A ittChairman John Armitt.

Simon Hughes, MP Presenting this

UNRIVALLED COMMITMENT

g , gyear’s T.Clarke Apprentice of theYear Award.

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UNRIVALLED COMMITMENT 300 Apprentices receiving training across the UK

Health & Safety Poster Campaign

HEALTH & SAFETY38

HEALTH & SAFETY

12 Month Safety Campaign on all our sites across the UK

Appendix Three

plc Board Structure39

plc Board Structure

Current plc Board

CHAIRMANCHAIRMAN

RUSSELL RACEINDEPENDENT

DIRECTORSSENIOR INDEPENDENT

DIRECTOR

CHIEF EXECUTIVE OFFICER

PAT STANBOROUGH

BEVERLEY STEWART

IAIN McCUSKER

BOB CAMPBELL

PAT STANBOROUGH

MANAGING DIRECTOR

MARK LAWRENCE

OPERATIONS DIRECTOR

MIKE CROWDER

FINANCE DIRECTOR

VICTORIA FRENCH

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MIKE CROWDER VICTORIA FRENCH

plc Board From January 2010

CHAIRMAN

RUSSELL RACERUSSELL RACE

CHIEF EXECUTIVE

INDEPENDENT DIRECTORS

BEVERLEY STEWART

C S

SENIOR INDEPENDENT DIRECTOR

BOB CAMPBELL

OFFICER

MARK LAWRENCE

IAIN McCUSKER

OPERATIONS DIRECTOR FINANCE DIRECTOR

MIKE CROWDER VICTORIA FRENCH

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Appendix Four

Principal Shareholders42

Principal Shareholders

Appendix Four

Principal Shareholders

Holder Share Holding %

Principal Shareholders

AXA S.A.* (Framlington) 5,563,349 13.93%

Liontrust 2,130,228 5.33%

Barclays plc 2,060,523 5.16%

Henderson Global Investors 1 647 437 4 12%Henderson Global Investors 1,647,437 4.12%

Legal & General 1,623,350 4.06%

32.60%

Shares in issue: 39,947,889

43Information correct as at March 2009 and included in 31 December 2008 Financial Statements, apart from AXA S.A. holding* which is as per TR1 released 21 May 2009.

www tclarke co uk44

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