But repair and maintenance contractor says 2008 results should meet latest expectations
Rok has reassessed 2009 revenue expectations and scaled back regional contracting work, following a fall in workload over the past three months, it said today.
In a trading update to the stock market, the repair and maintenance contractor said conditions in the new-build private sector remain “challenging” and that it saw a drop in trading volumes over the past quarter.
But the firm, which issued a profit warning in November, said that results for the year to 31 December 2008 should meet expectations.
Rok said that social housing and education wins and a £130m five-year contract with BAA will underpin revenues for the next five years and that it expects UK government promises to boost public sector projects to filter though in the second half of 2009.
The confirmed order book at the year end stands at £400m, down from £590m in 2007.
The firm added that year-end net debt of £44m is in line with its expectations.