Rok maintains profit levels

PROPERTY and maintenance firm Rok today said it was well-placed to grow as the UK economy recovers, despite suffering a fall in full year revenues.

During 2009, Rok said it had achieved a successful repositioning of business with an increased focus on repairs and maintenance. It had also secured market leading position in property insurance repairs.

Rok reduced its capacity to carry out large volumes of general construction work. The company said this was the main factor behind a 29 per cent drop in revenues to 714.8m in 2009.

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Measures to cut costs helped the company to maintain pre-tax profits (before intangible asset charges and one-off items) from continuing operations at 20.4m, the same level as the previous year.

Stephen Pettit, Rok's chairman, said: "We have maintained our profit levels despite reducing our revenues. This reflects the impact of our cost reduction programme as we shift our emphasis to the repair, maintenance and improvement markets. The board continues to be cautious on the overall outlook for our sector.

"The changes we have made in repositioning our business I believe illustrate the strength and flexibility of our company which bodes well for the resumption of Rok's growth when the wider economy begins a sustainable recovery."

London-based Rok entered Yorkshire in 2005 when it bought Lemmeleg, the Wakefield firm co-founded by Yorkshire Forward chairman Terry Hodgkinson, for 1.7m.

Rok employs around 400 staff in the Yorkshire and Humber region, and has offices in Wakefield, Morley, Grimsby and York.