Shares in T Clarke were down 10% at 537.5p after the electrical engineering and contracting firm unveiled a 17% fall in full year pre-tax profits to £8.94m on turnover that slipped 1% to £143.3m. Chairman Russell Race also offered a cautious outlook

The U.S. Department of Defense awarded a contract to the Iraq Power Alliance, a joint venture of Parsons E&C and Parsons Brinckerhoff, of Newcastle, to rebuild Iraq's electric power system. The work includes rehabilitation of the existing generating, transmission and distribution systems,