Group reports strong Covid bounce back
Robertson Group, the Scottish construction, infrastructure and support services business, has reported a strong rebound from the depths of the pandemic with a sharp rise in annual profits and a healthy order book.
Thestirling-basedgroupposted turnover of £588 million for the 12 months to June 30, 2021, which compares with £650m in the prior 15-month period. Profit before tax amounted to £16.9m, up from £1.2m in the previous extended period.
Bosses at the family owned business pointed to a “healthy” order book for the current and following financial year with the 2022 order book secured and on track to achieve budget at both turnover and pre-tax profitlevel.theyalsohighlighted a strong debt free balance sheet“tosupportfuturegrowth and new investment”.
Chief executive Elliot Robertson said: “The group has illustrated its strength in the marketplace and the resilience of its teams to deliver a strong set of results and quality of earnings in what continues to be challenging times for both our industry and the wider economy.
“Having taken the decision last year to extend our reporting period by three months we have been able to provision for the challenges imposed by Covid-19andpositionourselves well for recovery.”
The group said its capital projectsbusinesswas“makingreal progress” with its 25-year strategic partnering agreement, designed to help public sector bodies to overcome the issues and constraints that prevent progress towards sustainable development and services.
During the period, Robertson Constructiongroupcompleted an £87m project for Boeing to provide new hangar facilities at Raflossiemouth,tohousethe new fleet of Poseidon aircraft.
Meanwhile,robertsonfacilities
Management continues to form a core part of the group’s “growth and value strategy”, supporting an extensive portfolio of long-term public sector customers across healthcare, education and commercial facilities. Turnover now amounts to £94m, supporting more than 1,400 workers.
Urban Union had its first year asawhollyownedsubsidiaryof thegroup.thebusinessfocuses onurbanregenerationandcurrentlyoperatesfromfourdevelopmentsacrossedinburghand
Glasgow. The firm said there was “significant scope” to continue to expand the brand.
Cash at the year end stood at £155m, up from £116m, according to the latest accounts.
Robertsonsaid:“lookingforward, we are prepared for the challenges that will be presented by the changing economic climate.
“Following a year of positive progress, trading with a solid balance sheet and capital base, we have every confidence that we will continue to operate
as forecast. Ultimately our performance comes down to our teams across the UK, who remain a key focus.
“Our employees have been exemplary during the period and as we continued to adapt to an ever-changing environment their health, safety, and wellbeing, alongside that of our customers, supply chain and the general public remains our number one priority.”