Decent Homes initiative boosts pre-tax profits
Work for the Decent Homes initiative has helped Rok to deliver a 33% rise in pre-tax profit to £22.6m. The contractor said its performance was driven by its social housing new build and planned maintenance which had won more Decent Homes frameworks agreements than any other contractor in the sector. The result excludes £1.3m linked to legal costs and an out of court settlement it reached with former director Mark Kay over alleged unpaid bonuses and £0.3m made from the sale of a PFI investment. Turnover at the contractor grew 24% to £689.3m for the year ending 31 December while its order book stands at £522m, up 58% on the previous year.
Stephen Pettit, Chairman, said: “The opportunities for continuing growth in the markets in which we operate are significant. We have an experienced management team, excited by the potential for our business and which is determined to build our position as The Nation's Local Builder. We are confident that 2007 should be another year of strong progress."