Robertson Construction has delivered increased revenue and sustained total equity in its latest results – but inflation has impacted its bottom line.
Turnover for the year ended 30 June 2023 was £489.5 million compared to £459.7 million in the previous financial period, generating a pre-tax profit of £16 million (FY2022: £22.5 million).
An interim dividend of £12.6 million was paid during the year (FY2022: £14.1 million), but no final dividend was recommended.
Gross profit for the Elgin-headquartered company was £33 million, compared to £37.3 million in the prior period.
Operating profit was reported at £15.1 million (FY2022: £21 million).
Total net cash held at the year-end was £95 million, up slightly on the prior year (£96 million).
Robertson, which mainly operates throughout Scotland and the north of England, generated profit for the year of £12.7 million, down from £18.4 million in FY2022.
Net asset values were broadly in line with the prior period – £57 million.
Overview
“Our new financial year has got off to a positive start, but, like many businesses, we continue to manage the ongoing challenges of labour shortages and continued inflationary pressures,” said the group.
“By working with our clients and supply chain, we try to mitigate the risks for us all as much as we can in exceptionally difficult inflationary times.”
Adding: “Our strategy continues to be predicated on creating value from our businesses, through ongoing trading relationships, use of frameworks, long-term investing, selective quality workload and ensuring the highest levels of product quality and service delivery.
“Our focus going forward will be on innovation, sustainability, productivity and improving profitability.”
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