In a trading update this morning, chief executive Mark Lawrence, said: “We have now achieved a significant milestone with our secured order book surpassing £1bn for the first time.

“This substantial growth positions us well for future success and provides the board with continued confidence in our ability to deliver a strong performance into 2024 and 2025”.

Key growth sectors for orders were large M&E building projects and data centres where order levels have tripled.

Beyond that already secured in the order book, TClarke continues to see significant future opportunities across all of its core markets and is currently selectively tendering for more than £1bn of work.

Lawrence added that present turbulent market conditions were impacting a number of market participants.

TClarke was now seeking to enter early contract agreements and had changed some supply chain partners mid-contract to protect project completion dates.

The group’s 2023 operating profit is now expected to be in the £9m – £10m range.