RESTRUCTURING costs at troubled building services group Rok have plunged it into an interim loss, but its shares rallied as it targeted longer- term growth in the social housing sector. Rok last week announced serious failings in financial controls at its plumbing, heating and electrical (PHE) business, which resulted in the suspension of its financial officer Ashley Martin and a second profit warning in 15 weeks, which almost halved its share price. Yesterday, it revealed costs of £6.8m to pay for restructuring and job losses at PHE and its maintenance and improvements division, which resulted in a pre-tax loss of £3.8m in the six months to June 30, compared with a £6m profit the previous year. It said the PHE failings represented a “regrettable chapter” in the company’s history. Revenues also fell, by 15%, to £308.1m in the period. But the restructuring, a £435m order book and moves to expand its market share in social housing saw Rok’s share price recover 19% in early trading before finishing the day up 6.49%, at 20.5p. Chairman Stephen Pettit yesterday bought 25,000 2p shares at 20.2p and chief executive Garvis Snook purchased 250,000 2p shares at 20.25p. Four years ago, Rok established a regional base in Liverpool and it said its Brunswick Business Park operation continued to establish itself as a leading provider of refurbishment and maintenance works, securing long- term reactive and planned contracts with local authorities, housing associations and consultants. It said the shift in focus for the Liverpool office, away from large-scale new-build schemes towards the maintenance and refurbishment sector, has proved to be a positive move. Last month, Rok’s Liverpool base announced a series of contract wins with a combined value of more than £2m, and new customers, including Halton council, Weaver Vale Housing Trust and One Vision Housing. The Liverpool operation is continuing to recruit and has temporarily absorbed staff from its former Chester office, which closed after its lease expired, while the search for a North Wales location continues. The total number of staff based at Liverpool is currently 83, said area leader Wayne Booth. He added: “The shift in business focus for the Liverpool office has changed the local operation significantly. “We have had to undergo a period of re-focus and re-adjustment that, now in place, is proving to be a positive move with significant signs of success. “We are committed to growing the Liverpool office further in the future, recruiting skilled people and developing existing staff through ongoing training. “Our ability to provide a 365-day-a- year, 24-hours-a-day responsive service fits well with the needs of several of our customers, and we are seeing an increase in this type of work.” He said: “By recruiting directly, we are able to uphold our high standards.” | 
