M&E contractor T Clarke has overhauled its senior management team and tightened financial controls after suffering a 23% drop in profit during 2006.

The firm’s profit fell to £6.8m for the year to 31 December 2006, compared with £8.6m the previous year. Turnover fell 4% to £186m in the same period.

T Clarke said this week that Pat Stanborough, its current chief executive, would retire from the board in October 2008. Mike Crowder, the divisional director, has been appointed executive director in advance of Stanborough’s departure.

In December, T Clarke appointed Barry DeFalco managing director for the UK regions and Mark Lawrence managing director of London operations.

T Clarke was hit by rising copper prices, and had problem contracts in Scotland, Derby and East Anglia.