Contractor increases pre-tax profit to £9.3m and predicts more branch openings
Contractor ROK has announced a 21% jump in pre-tax profits to £9.3m in its interim results to 30 June 2006.
Rok also saw turnover rise to £301m over the six month period, a 26% rise from the corresponding 2005 figure of £239m. The results were boosted by major social housing appointments totalling over £350m.
Rok chairman Stephen Pettit said: “The results give us increasing confidence that we are on course towards delivering our long term strategy of being recognised as the nation’s local builder.”
Pettit also said he expected further branch openings, to add to the five achieved this year. He said: “We see significant opportunities for organic growth through further branch openings in parts of the country where we are not currently represented and through further market penetration in existing branches.”
The results included a one-off payment of £1.4m to former director Mark Kay, who had issued a claim of over £5m against the company in respect of bonus payments for the years 2002 and 2003.