The chief executive of troubled interior fitter Havelock Europa has resigned as the company announced a large loss in the first six months of the year.

David Ritchie has stepped down came as the Fife-based firm posted a pre-tax loss of £2.6 million between January and June compared with an £868,000 loss for the same period a year ago.

A 9% drop in revenue to £23.2m has been attributed largely to a “weak” order book for the public sector at the start of the year.

Mr Ritchie, who has been in post since May 2015, has resigned with immediate effect to “pursue other business interests” and has been succeeded by Shaun Ormrod, former boss of the firm behind the Farnborough International Airshow.

It is the third major boardroom departure this year, following the resignations of chairman David MacLellan in January and chief financial officer Ciaran Kennedy in April.

The news comes three weeks after a company warning that this year’s results would fall “significantly below expectations”.

Chairman Ian Godden said: “Havelock has experienced a difficult first half, with market uncertainty among both public and private sector clients resulting in reduced or delayed activity.

“I believe, however, that our new leadership team, combined with our developing commercial strategy, will set a strong foundation for the future.”

A comprehensive review of strategy has been carried out over the last six months, with the results of this due to be announced at the end of October.

Mr Godden said that he expects the company to trade profitably in the second half of this year and hopes to improve its performance next year.

He added: “With a reduced cost base following the restructuring of the business over the last 18 months, the group is well placed to improve its performance, as these changes take effect, and generate a positive return to shareholders.

“The board would like to thank staff for their support and commitment during this difficult period.”