Bosses at Elgin-based Robertson Group said it will continue to weather the challenges of what has been “exceptionally difficult inflationary times”.
The family-owned firm said its 57-year track record means it will “perform in the line” of its forecasts next year as it deals with project start delays caused by inflation which has breached a 40-year high in the past year.
The group, which delivers construction, facilities management and capital projects as well as operating a timber products manufacturing base in Elgin, said it enjoyed a “strong set of results in a challenging market” in its most recent financial year.
It said it operated across over 200 construction sites, developments and 5,852 facilities management locations across Scotland and England in the year to end of June 2022 in which it increased its pre-tax profits 21.3% on the prior year to £20.5 million.
The year was capped by its founder receiving a knighthood in the New Year’s honours list.
Sir William Robertson, known as Bill, was knighted for services to the construction industry and to charity in Scotland. He founded the business in 1966.
The company, which employs more than 2,500, is now run by his son Elliot Robertson who became chief executive in 2020.
Sir Bill admitted the £616m turnover for Robertson Group (holdings) was “below our budgeted level” albeit it was up from £588m in the previous year.
Inflation not seen in 50 years
According to the company’s accounts for Robertson Group limited filed at Companies House, the firm faced “unprecedented levels of inflation across materials, labour and energy not seen in 50 years”.
Sir Bill’s statement added: “This on the back of the Covid-19 impact in 2020, has made the past two years some of the most challenging every encountered by a range of businesses.
“Our new financial year got off to a positive start, but, like many businesses, we continue to manage the ongoing challenges of labour and material shortages and significant price inflation.
“By working with our customers and supply chain, we try to mitigate the risks for us all as much as we can in exceptionally difficult inflationary times.”
CEO Elliot Robertson said: “We anticipate that in the coming year as we continue to face the challenges of the economic climate that project start delays caused by inflation may influence our next year’s results.
“However, we have been in operation for 57 years, facing numerous economic challenges along the way and we have confidence in our direction of travel as we continue to make positive growth and contribute to the UK economy.
“Our solid balance sheet and capital base, reinforces our confidence that we will perform in the line with our forecasts.”
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