Mark Lawrence set to become T Clarke's next chief executive

Mark Lawrence has emerged as the front-runner to become chief executive of T Clarke, the electrical contractor, when Pat Stanborough retires from the post later in the year.

Lawrence, aged 41, is currently the head of the group’s London division, having been appointed to that position in 2007.

Clarke has booked the Savoy Place in London for its annual meeting at noon today. The message to shareholders will be that the group has a healthy cash balance and the year has started well.

The order book stands at around £175m (comparable figure at the end of the first quarter of 2008: £200m).

A trading update from the group this morning reports: “Current market conditions continue to be uncertain. However, early indicators suggest some restoration of confidence in the construction of new build commercial properties.

“Since many of the new build design and planning processes were completed prior to the current market turbulence, it is possible that formal construction activity on a number of commercial development schemes could begin as early as mid 2010.

“The group's London operations continue to bid for a number of exciting opportunities, including rail infrastructure projects, some of which are linked with the major London transport project Crossrail.”

Clarke reports steady progress on the Olympic Stadium, which is on schedule for completion in early 2011.

Design activities have commenced on the Westfield Stratford City Shopping Centre, which is located close to the London Olympic site.

In the regions, Clarke continues to enjoy success in the public sector - notably in health, education, housing and prisons.

The operations in Scotland, Newcastle, Leeds and Derby have “good forward order books and visibility”.

New contract awards include

Ravensbourne College in Greenwich
Longbenton Campus, North Tyneside
Northern Ballet, Leeds
HMP Hull
Longannet Power Station, Firth of Forth, Scotland.

Today’s trading update reports that “the group has a strong cash position with net cash balances of approximately £21m as at 30 April” and adds that “at this stage we are not considering any acquisitions, but we remain alert to be able to move quickly if suitable opportunities present themselves.”