Member Info for didgeridoo

This is a complete waste of time, all builders are the same, even the gov direct. Cheques in the post missed this months cheque run never got your application/invoice accountant away this month on hols we will call you back then they challenge the bill, something missing/not right/client said.....................................

I think the underlying business is good. Yes sqeezing us subbies. But its the plc overall debt that would concern me, from buying all their businesses to grow. Starting out as the Exeter Building Company (EBC) to buying Rockeagle of Exeter for the development side, changing the name to ROK, selling all land assets 2 years ago, buying companys all around the UK with bank money. It cannot see them going to the wall, but agree with DShox the most likely outcome will be an offer from say Balfour Beatty, Kier, Morgan Sindall etc.

It could make them insolvent, because we and others are still chasing the outstanding debt which is legitimately owed, which i very much doubt has been put on the books. Add what they owe and PCW would have kittens

http://www.cityam.com/news-and-analysis/rok-drafts-pwc-ahead-refinance-talks ROK is understood to be setting up refinancing discussions with its lenders, a month after the building group issued its second profit warning of the year. A company spokesman said it was not at risk of breaching its covenants, and said the move to renegotiate its debt was an indication it was confident of meeting market expectations of profits for the year to 31 December. “We have commenced discussions with our banks with a view to renewing our banking facilities,” the company said. “The timing of that refinancing is in line with the requirement to put new facilities in place in the early part of 2011.” The group’s banks are drafting in PricewaterhouseCoopers (PWC) to verify Rok’s accounts ahead of the talks. As a sub-contractor who works for ROK , i can tell you that they are not the best at paying the bills, we are still owed in excess of £50K for a school project carried out 3 years ago. This is for one sub-contractor on this job, multiply by quite a few subbies and the mulitply by many different jobs carried out by the local office, then multiply by the number of ROK offices. If and when PWC audits the books, it will not be good reading, and possibly insolvent. Rok also undercut all the little local builders, which i just don;t know how they can do this and make money. This is got to get the job for turnover.

yesterdays close of 194.9, to have the same amount of capital invested today, need a minimum share price of 779.6, so be my reconning we are up about 1.5% today.