3 April 2023
Robertson Group full year results to year end 2022
Robertson Group full year results to year end 2022
Stirling, 3 April 2023 – Family owned leading construction, development, infrastructure and support services business Robertson Group, has reported a £616 million revenue in the 12 months to 30 June 2022.
- Revenue £616M (2021: £588M)
- Profit Before Tax (PBT) £20.5M, growth of 21.3% from previous year (2021: £16.9M)
- Maintained climate positive status without increasing offsetting and further reduced carbon intensity by 24.1% (reduced by 67.7% since 2015)
Elliot Robertson, Chief Executive Officer, Robertson Group, said: "The Group continues to deliver improvement in line with our long-term strategy. We are pleased with a strong set of results in a challenging market, delivering quality of earnings, which builds on the progress made last year and reflects the diversity of our offering and strength in the marketplace.
"We operate in a highly competitive marketplace where quality product and services delivered on time and to budget are imperative and one of our key differentiators. The current social and economic climate continues to be challenging for the sectors we operate in due to labour availability, and unprecedented levels of inflation across materials and energy. However, our strong relationships with our customers and supplier base, enables us to collaborate with our stakeholders to deliver the best outcomes for all concerned.
"Our family of businesses comprises a diverse portfolio of infrastructure-based product and service solutions, producing a mix of long and short-term cash flows, profits and investments creating value and opportunity from the broad offering we give to our markets.
"Our outlook is healthy, and going forward we will continue to provide the best solutions to meet the needs of our customers, while focussing on our people, supply chain, innovation, sustainability and productivity."
Throughout the year, the Group operated across over 200 construction sites, developments and 5,852 facilities management locations throughout Scotland and England.
Robertson Construction Group operates a regional construction business model providing a sustainable base for the group, and which, if required, has the ability to be expanded geographically in an organic manner. Comprising 8 regional businesses, Civil Engineering and a Major Projects division, Robertson Construction Group has strong repeat customer base and, in the year, delivered robust trading and revenue of £460M.
Robertson Facilities Management (RFM) is a core part of the group's growth and value strategy, providing employment for over 1,500 people. RFM contributed revenue of £118M through the delivery of bespoke solutions across the UK, in healthcare, education, local authority and commercial facilities for public sector and private customers.
Robertson Timber Engineering (RTE) provides a range of high -quality timber engineering solutions for both residential and commercial uses, along with a design, supply and erect service, from its manufacturing base in Elgin. With a strong internal customer base including Robertson Construction Group and Robertson Residential Group, RTE also supplies manufactured timber solutions to a wide range of external customers.
Urban Union was formerly a 50/50 JV which is now wholly owned by Robertson Group has now been fully integrated into the group's governance structure. With a strong brand and excellent reputation for long term regeneration and place creation, the award-winning business continues to expand, and currently operates from five developments across Glasgow and Edinburgh.
Robertson Capital Projects (RCP) continues to make significant progress with strategic support and investment for our customers and the delivery of new social infrastructure projects through the East Central Hub Programme and Clear Futures, a 25-year Strategic Partnering Agreement, providing existing and new public sector participants in the UK, with a flexible collaborative approach to overcome built environment challenges, while driving positive change in their communities faster, smarter and more sustainably. Great progress is being made with a range of partners and other public sector bodies are anticipated to establish long-term partnering agreements in the year ahead.
Elliot continued: "We seek to support our customers by providing strategic support around estate rationalisation, asset and energy optimisation, regeneration and provide decarbonisation and funding pathways for both new and existing estates. We will continue to apply social impact, economic wellbeing and innovation to meet their needs across our family of businesses, to deliver the best quality products and services.
"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.
"Our teams across the UK are the heartbeat of our family of businesses and our number one priority is to ensure that they return home safe every day. In addition to protecting our people, our supply chain and the people, who come into contact with our operations, we also want to help protect our planet. We are proud of our Climate Positive Status and by following our 2030 Responsible Business Strategy we have successfully reduced our carbon intensity by 67.7% over the last seven years, and will continue to seek new ways to increase our energy efficiency whilst decreasing our carbon footprint."