Robertson Group has said it will remain profitable this year, despite economic challenges.
The Elgin-based construction firm – one of Scotland’s largest independent construction companies – added it was “on track to deliver our vision to assure a sustainable future”.
Delivering the upbeat message was Elliot Robertson, the company’s chief executive,
He was speaking after accounts lodged at Companies House revealed Robertson Group (Holdings) grew sales by nearly 9% in its last full trading year.
But it also suffered a 2o% plunge in profits.
‘Positive progress and trading’
In his annual review, founder and executive chairman Sir Bill Robertson said the figures for the 12 months to June 30 2023 reflected “a year of positive progress and trading”.
He added: “The group has had a solid year and built on progress since the Covid-impacted years. The blend and diversity of businesses across the group has contributed to our sustained margin position”.
Mixed results
Robertson posted pre-tax profits of £16.3 million for 2022-23.
This was down from £20.5m the year before as the company battled against “unprecedented levels of inflation across materials, labour and energy”, while higher interest rates squeezed public and private sector budgets.
But a “robust” trading performance saw turnover surge to £670.9m last year, from £615.6m in 2021-22, Sir Bill said. Higher sales were driven by a “clearly defined regional business model, a continued focus on project selection and strong local supply chain relationships”.
Price inflation and reduced labour availability continued into the current trading year, the chairman said, adding: “We continue to work with our suppliers and subcontractors to manage the risk around price inflation.”
What does Robertson do?
Robertson provides expertise across the whole built environment lifecycle. Its activities include development, construction, facilities management, civil engineering, timber engineering, and strategic services.
The company plans, constructs, finances and manages buildings and facilities clients throughout the UK.
Sir Bill, 78, founded the business in 1966. As of February 20 2024, he owned 65% of it.
His son, Elliot, is now the group’s chief executive, having been appointed to that role in 2020.
‘Sustainable growth’
Robertson’s CEO said the firm had “delivered a strong set of results in line with predictions.”
He added: “We continue to operate our family of businesses with a strong balance sheet and capital base.
“Our sustainable growth over the period has enabled investment across the group, and in the future of our people.”
Mr Robertson said the company was working closely with customers to “help them define pathways and achieve their net-zero aspirations”.
He went on: “As a climate-positive business, we continue to reduce the environmental impact of our operations through innovation and the decarbonisation of our activities.
“Robertson Group is well-prepared for the coming year and, despite the economic challenges facing the sector and wider economy, we will remain profitable and on track to deliver our vision to assure a sustainable future.”
Robertson’s average headcount jumped to 2,705 in 2022-23, from 2,551 the year before.
Conversation