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Rok upbeat despite property gloom

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Date: Thursday 01 May 2008

LONDON (ShareCast) - Building contractor Rok shrugged off concerns about a slowing property market reporting first quarter revenues are up by 20% with orders are doing even better.

"Group revenues for the first quarter of 2008 were up by more than 20% over the prior year. The committed order book across new build and planned repairs and refurbishment activities currently stands at £650m, up 24% on 2007," it said.

"New long term frameworks won since the beginning of the year, primarily in social housing and education, total £240m, up £70m on 2007. Our total long term partnership arrangements currently stand at £1.9bn, up 27% on the same time last year," it added.

The firm said that although the market for private commercial and industrial new building will tighten, the outlook for public sector spending continues to be positive and underpins growth into 2009 and beyond.

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