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BUILDER STARTING YEAR WITH RECORD ORDER BOOK
A Record order book will result in Bristol builder Rok's 2007 results being "significantly ahead" of last year's, it revealed yesterday.In a trading statement, the Ham Green firm said trading for the year to December 31 was expected to be in line with market expectations.
It also revealed that its building arm has spent £3 million on Tayside plumbing and heating contractor Pitkerro.
The group revealed it secured £780m of long-term framework agreements in 2007, bringing the total to £1.7 billion, up on 2006's figure of £1.4bn. These frameworks are mainly in social housing, education and response maintenance. The confirmed order book currently stands at a record £590m. In 2006 it was £360m.
Rok added that a string of new acquisitions have been integrated into the group. These include Avonside Services Group, for which it paid £16.5m in September.
Avonside provides plumbing, heating and electrical services to the construction industry. It operates from four offices across the North of England and Scotland, and employs 450 staff, of which 325 are either CORGI or NICEIC-registered skilled tradesmen.
Rok also bought the assets of failed Aquilo Inspection and Reinstatement Services (AIRS), based in Nottingham, from the administrator for a cash consideration of £2.1m.
AIRS provides an integrated service to insurance companies for the management of building damage claims, which includes property inspections, claims management and managed repairs.
Rok Maintenance, the group's response maintenance operation, continues to grow strongly. It added that it has already secured 70 per cent of its anticipated 2008 income through a number of long term agreements with insurance companies, housing associations and local authorities.
Sent: 11/01/2008
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