Rok Admits Mismanagement

Yesterday, the shares in Rok dived after the repair and maintenance specialist suspended its finance chief and warned that serious mismanagement of contracts would force the compny to make writedowns.
The profit warning was the second in three months for the company that dubs itself as “The Nation’s Local Builder”. It sent Rok’s shares tumbling 45% lower. The sell-off follows the turmoil surrounding Connaught, the social housing maintenance specialist that has watched its shares plunge amid concerns over its accounts following a warning that it was in urgent need of additional funding.