Construction firm Rok said it was well-placed to grow as the economy recovers, despite suffering a 29 per cent fall in full year revenues.

The company, which employs 53 people across its two offices in Birmingham, saw sales fall from more than £1 billion in 2009 to £714.8 million last year.

Pre-tax profits remained constant at £20.4 million despite the fall in sales.

The company said it had managed to reposition the business with increased focus on repairs and maintenance and managed to improve margins on reduced activity levels.

Chairman Stephen Pettit said: “We have maintained our profit levels despite reducing our revenues. This reflects the impact of our cost reduction programme as we shift our emphasis to the repair, maintenance and improvement markets.

“The board continues to be cautious on the overall outlook for our sector. The changes we have made in repositioning our business I believe illustrate the strength and flexibility of our company which bodes well for the resumption of Rok’s growth when the wider economy begins a sustainable recovery.”