Rok forecasts stronger second half

Rok expects to enjoy a stronger second half of the year after several project starts were delayed in the first quarter.

In a trading statement issued to the City this morning, chief executive Garvis Snook said: "Rok, the group's building and construction activities, has continued to grow despite the strategic decision not to replace large value, higher risk construction projects that were undertaken by companies joining the group through acquisition. While trading in the first quarter was slower than expected, with delayed project starts in respect of a number of publicly funded projects, volumes are now coming through more strongly, which will impact in the second half."

Durose & Gourlay was acquired in May and "will contribute significantly to the group's social housing expertise". Group net borrowings increased by £19m to £36m, reflecting the acquisition. Additional bank facilites of £20m have been arranged.

Rokforce, the group's maintenance division, is growing strongly, Snook said. Rokeagle, the group's property development arm, is at its "strongest level to date".

Rok's results for the first half will be announced on 16 August.