Robertson bounces back with £17m profit

Aaron Morby 3 months ago
Share

Family-owned Robertson Group has bounced back into profit after recording a trading loss in 2020 due to the impact and provisions for Covid.

CEO Elliot Robertson says the business is meeting the challenges of materials price inflation and labour availability
CEO Elliot Robertson says the business is meeting the challenges of materials price inflation and labour availability

In the year to June 2021, Robertson Group returned to more normalised trading lifting pre-tax profit to £17m from £1.2m in the previous 15-month period.

Group operating margins returned to 2.5% after operating profit rebounded to £15m from a £6m loss previously.

Elliot Robertson, chief executive officer, said the business was well-positioned to grow further after revenue climbed back to £588m last year.

He 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.

“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.”

Net cash at year-end improved to £74m from £34m the year before.

Robertson Construction delivered robust trading with turnover of £462m. The regional contracting arm completed an £87m project for Boeing to provide new hangar facilities at RAF Lossiemouth to house the new fleet of Poseidon aircraft and a £53m community campus at Inverurie.

Elliot Robertson added that its Capital Projects arm was making real progress with Clear Futures – a 25 year Strategic Partnering Agreement designed to help public sector bodies decarbonise.

Robertson Facilities Management continued to form a core part of the group’s growth and value strategy, delivering FM solutions across the UK with turnover growing around a quarter to £94m and employing over 1,400 people from staff at 2,600.

 

Latest news

Thirty construction workers killed on site last year

Industry fatality numbers drop 25% on previous year
3 hours ago

Construction and housing ministers resign

Industry leaders join mass exodus from government
7 hours ago

Aecom hires Arcadis veteran to grow northwards

Jonathan Moore aims to expand Aecom's business in the Midlands and North
6 hours ago

M&E contractor Kershaw went down owing subbies £10m

More than 400 firms left holding unpaid invoices
17 hours ago

Green light for UK’s first plastic recycling park

£165m park in Cheshire will recycle 367,500 tonnes of plastic
17 hours ago

Go-ahead for two Tilbury Douglas hospital jobs

Wirrall and Stockport hospital A&E jobs together worth nearly £60m
16 hours ago

Eight contractors trailblaze concrete carbon reduction plan

Firms pledge to switch to 30% low emission concrete by 2025
1 day ago

Red Construction lands London Victoria office overhaul

St James's Park building will be extended up by two floors in overhaul
16 hours ago

Six locations shortlisted for Great British Railways HQ

Site for national HQ narrows to Birmingham, Crewe, Derby, Doncaster, Newcastle and York
1 day ago

Kit maker Genie fined after M25 work platform death fall

Court hears how calibration error led to death of worker when 40 metre high mobile elevating work platform collapsed
2 days ago

O’Connor Utilities sold to private equity

OCU Group reported to have fetched around £400m
3 days ago

Rolls-Royce shortlists sites for first SMR factory

Three factories will make reactor, civils and MEP modules for SMR nuclear power stations
2 days ago

£233m loan kick starts £3.5bn regen of Royal Docks site

Infrastructure loan paves way for 6,000-home East London Silvertown scheme
2 days ago

Henry Construction wins £33m Oxford housing estate rebuild

Contractor signs off first deal with A2Dominion
2 days ago

Carillion collapse hospital hit by more construction delays

Balfour will take another 18 months to complete Midland Met scheme
2 days ago

Leeds college launches new construction and football course

Students can now combine site and tech skills with learning at a football academy
2 days ago

Willmott Dixon blasts new Building Safety law

Rick Willmott accuses Government of scapegoating construction over its own regulatory failure
3 days ago

£550m plan to redevelop The Galleries centre in Bristol

Shopping centre building to be demolished for major mixed-use scheme
3 days ago

Costain cancels supply chain event on £260m road job

Preparation work for A1 upgrade stalls as Transport Secretary dithers over approval
3 days ago

£170m London Holborn Circus office approved

Demolition work set to start in the autumn for 10-storey office block
3 days ago

City leaders launch net zero construction skills drive

City of London leader warns "skills gap and labour shortage are threats to our net zero ambitions"
3 days ago

Marlborough Highways lands £32m Islington civils deal

Contractor to help with north London borough's green drive
3 days ago

Osborne makes £45m construction loss

Sale of infrastructure business balances books as contractor looks for zero-carbon wins
6 days ago

John F Hunt forecasts record revenue and profits this year

Demolition contractor back on strong financial footing after previously setting aside £5.6m for bid rigging probe
6 days ago

Notting Hill Genesis names £2.8bn framework winners

26 firms land places on main contractor deal: Full list
6 days ago

Green light for dual hotel scheme at Nine Elms

Two new hotel towers will share common basement
6 days ago

Trials start on cement-free pre-cast piles

Aarsleff is hopeful a product will come to the market shortly
6 days ago

Ex-Telford Homes boss to run green house builder

Jon Di-Stefano takes helm at M&G backed Greencore Construction
6 days ago

Subcontractors told to stop work on Brymor sites

£80m revenue southern contractor files letter of intent to enter administration
7 days ago

House builder Chartway sold to private equity firm

Cabot Square Capital signs another major construction deal
7 days ago

Contractor services