Recent figures from the Robertson Group have shown signs of recovery for the family-owned construction group, after facing losses during the pandemic.
The business reported a turnover of £588 million between June 2020 and 2021, with profit before tax coming in at £16.9 million.
This is significantly better than the £1.2 million recorded during the previous 15-month period when the country was in the middle of Covid-19 lockdowns and construction projects were put on hold.
Elliot Robertson, chief executive officer of the Robertson Group, said the latest results show the company’s “strength in the marketplace and the resilience of its teams”.
He stated the organisation has gone on 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”.
The net worth of the group stood at £76 million at the end of last year, compared with £62 million at the close of 2020.
The Construction Enquirer reported the group’s operating profit reached £15 million last year, which is a dramatic improvement from the £6 million loss its operating profit recorded the previous year.
Its net funds also improved from £33.87 million during the 15 months leading to June 30th 2020 to £74.54 million for the year to June 30th 2021.
Mr Robertson recognised the current difficulties the industry faces, saying: “We are challenged by the current climate of price inflation and material and labour availability.”
He went on to say: “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.”
Looking ahead, Mr Robertson said the company is “prepared for the challenges that will be presented by the changing economic climate”.
“Following a year of positive progress, trading with a solid balance sheet and capital base, we have every confidence that we will continue to operate as forecast.”
Its current projects include construction of a new Teeside University Net Zero Industry Innovation Centre (NZIIC). Work on the £13.1 million facility, which aims to make a significant impact in achieving net zero energy usage for the UK, has recently got underway.
As a result, the materials, techniques and equipment that will be used to build the structure will be as sustainable and environmentally-friendly as possible.
In addition to this, work will soon begin on a new Cardiff Arena after the planning committee approved the application for Phase One of Atlantic Wharf, Bluetown.
This will include a 17,000-capacity arena, as well as a hotel and landscaping. Construction work is anticipated to start later this year and will create more than 1,000 jobs during the course of building. It is hoped the arena will be complete and open for business by 2025.
This comes as part of a wider “masterplan” for the Cardiff Bay area, which includes 890 new residential homes, 1,090 hotel bed spaces, 19,500 square metres of employment floorspace, 12,310-square metres of retail area, and 27,500 square metres of leisure facilities.
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