Updates

Rok Property - Closes Spaceage division

March 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Having failed to attract a buyer for the division, Rok has announced it is to close its non-core Spaceage business in Poole. The business fabricated conservatory roofs and was a wholesaler of plastic building products. The cost of the closure will equate to an exceptional charge of £1.6m, of which £0.5m is a cash cost. Spaceage accounted for just 1% of turnover last year and had been loss making for some time. The disposal will allow Rok to focus on its core areas of the business, which continue to perform strongly; property development, building and planned maintenance & reactive maintenance.Rok had flagged an exit from Spaceage some time ago and the news helped the sh ...

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