Writing a more efficient clock function

Public Class Form1
   Private WithEvents clockTimer As New Timer
   Private currentTime As DateTime = DateTime.MinValue

   Private Sub ClockTick(ByVal sender As Object, _
      ByVal e As System.EventArgs) Handles clockTimer.Tick

      UpdateTimer()
      DisplayTimer()
   End Sub

   Private Sub UpdateTimer()
      currentTime = DateTime.Now

      clockTimer.Stop()
      clockTimer.Interval = 1000 - currentTime.Millisecond
      clockTimer.Start()
   End Sub

   Private Sub DisplayTimer()
      lblTime.Text = currentTime.ToString("T")
   End Sub

   Private Sub Form1_Load(ByVal sender As System.Object, _
      ByVal e As System.EventArgs) Handles MyBase.Load

      UpdateTimer()
      DisplayTimer()
   End Sub
End Class