Friday, October 2, 2009

Robertson makes £2m loss

Robertson has annouced a pre-tax loss of ВЈ2m in its latest set of results, for the year ending 30 November 2008, after making a pre-tax profit of ВЈ11.9m in the previous year.

The Scottish-based construction group, which also operates across north-east England and Northern Ireland Ireland, saw turnover plummet 36% to ВЈ157.1m from ВЈ247.4m.

Executive chairman Bill Robertson said the economic downturn had been "extremely challenging" for many of his businesses, but by reducing the operational cost base, they will now operate effectively under the continuing tough trading conditions being felt throughout the industry.

He said: “Robertson is clearly not immune to the current economic downturn and in keeping with our peers we have had to adapt to remain competitive in our market places. These changes have been challenging and I expect the next few years to be even more intense as we continue to adapt to the changing economic climate."


Robertson makes £2m loss


Robertson has de-merged its seven regionalised construction companies from the main group to form the Robertson Construction Group.

It is now split into eleven businesses:

Seven regionally-based contractors; A property development company; A timber frame manufacturing business; A facilities management company; and A PFI and PPP investment business.Performance of individual businesses


Earlier this year, the construction business was selected as a principal supply chain member on the NHS Frameworks Scotland scheme as part of the RD Health consortium which includes Dawn Construction.

Through the NHS Framework agreement Robertson Construction Group has since been selected as the main contractor to deliver the ВЈ115m Emergency Care Centre at Aberdeen Royal Infirmary, the ВЈ9 million Migdale Hospital at Bonar Bridge and a ВЈ30m Community Health and Care Village.

The newly-created construction group is expected to generate a turnover in excess of ВЈ120m in its first year of trading.

Robertson Homes

The house building arm, now a separate trading company in its own right, sufferred a significant  downturn in activity recording a pre-tax loss of ВЈ8.1m (2008: ВЈ6.2m pre-tax profit) on a turnover of ВЈ38m (ВЈ83m).

A major element of this loss eminated from a significant writedown on its landbank.

Bill Robertson said: “Robertson Homes has not escaped the difficulties affecting the house building sector across the country and has re-shaped its business to match the changed market place. The business has been restructured into two distinct geographical areas allowing a much more targeted focus."

Robertson Property

The property business was also de-merged from the main Robertson group to form part of the Robertson Construction Group. Robertson Property opened Baltic Place – a £35 million prestige office development in Gateshead. The building which achieved its practical completion in August looks set to be a third occupied by the end of the year.

Robertson FM

Turnover was up 27.5% to ВЈ13m for the year ending 2008 and is projected to be up to ВЈ18m by the end of 2009. The business has a forward order book in excess of ВЈ450m and will be adding to the range of specialist facilities services offered over the next year.

Robertson FM operates on public sector PFI projects but has also branched out into the private sector.

Robertson Timberkit

Robertson's timber frame business has been hit badly by the collapse of the private housebuilding market. However, the firm says over 50% of planned turnover has already been secured for 2010.

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