Robertson Group reports ‘year of positive progress’ as turnover reaches £588m
Robertson Group has welcomed a bounce back in performance following challenges of the pandemic to report a £588 million turnover over 12 months to 30 June 2021 and a pre-tax profit of £16.9m.
The figures compare well to the £650m of turnover and £1.2m pre-tax profit generated over a 15-month period in 2020.
Net worth of the group rose to £76m from £62m at end 2020, while cash at year end was £155m (up from £116m). Net cash balance (after netting off overdrawn balances) £74m (up from £34m).
Robertson Construction Group delivered robust trading and a turnover of £462m. The division completed an £87m project for Boeing to provide new hanger facilities at RAF Lossiemouth to house the new fleet of Poseidon aircraft and the award-winning £53m community campus at Inverurie.
Robertson Facilities Management (RFM) experienced 24% growth in turnover to £94m. Robertson said RFM continues to form a core part of the group’s growth and value strategy, delivering FM solutions across the UK to an extensive portfolio of long-term public sector customers across healthcare, education, and commercial facilities. It commenced a national contract with Scottish Fire and Rescue Service.
Robertson Capital Projects is making real progress with Clear Futures which is a 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, and positive economical, societal and environmental impact.
Urban Union had its first year as a wholly owned subsidiary of the group. Focussing on urban regeneration and currently operating from four developments across Edinburgh and Glasgow there is significant scope to continue to expand the brand as it gains strength in the market through an excellent product offering.
Elliot Robertson, chief executive officer, Robertson Group, 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-19 and position ourselves well for recovery.
“The group offers delivery of excellent quality products and services, with strong operational performance, which in our competitive marketplaces is one of our key differentiators. Our focus as we move forward will be on delivering on our Group Strategic objectives which are centred around meeting the needs of our customer, developing our people and moving towards higher levels of sustainability, responsible business and continuous improvement in all that we do, whilst retaining strong governance and risk management.
“We are challenged by the current climate of price inflation and material and labour availability however through our strong supply chain partnerships and our ongoing commitment to developing our talented people, together with rewards, and retention strategies, we are resolute in our confidence that the year ahead will have positive outcomes for the business.”
Mr Robertson added: “Looking forward, 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 our customers, supply chain and the general public remains our number one priority.”