Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Company spotlight: Rok

LAST week Rok Property Solutions hosted a party of brokers' analysts on a visit to its Solent region office and various sites.

Although the company said that no new information on current trading was disclosed, the 10 per cent rise in Rok's share price last week suggests the day went well.

Over the past fortnight Rok's shares, which had drifted since its interim results in September, have leapt from 440p to 513p.

The analysts were given presentations on Rokforce, the response maintenance business, Rokeagle, the commercial development arm, and efforts to build the Rok brand.

There is keen City interest in Rokforce, which has enjoyed rapid growth in turnover ? up 65 per cent in the f irst half ? but heavy investment in new people and equipment meant first half margins came under pressure.

The firm has secured contracts with major financial clients including Lloyds TSB and Zurich Investment, although following the heavy investment a slow start to volumes from Royal & SunAlliance also affected margins.

The current rash of deals in the sector may heighten interest in Rok as one of the few quoted contractors groups with an acquisitive tradition.

The firm's first half net debt rose to £26 million, partly due to its purchase of Durose & Gourlay.

But its 44 per cent gearing is still shy of its target range of 50 to 75 per cent and in the present climate the City would probably be happy to see the group playing a further part in the sector's consolidation.