Robertson boosts profit but warns of inflation ‘challenge’

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Robertson has accrued its profitability but admitted being “challenged” by shortages successful the availability of unit and materials.

The Scottish contractor posted a pre-tax nett of £16.9m for the 12 months to 30 June 2021.

This was up from conscionable £1.2m successful the 15 months to the extremity of June 2020, a play successful which president Bill Robertson said the archetypal COVID-19 lockdown “all but eradicated” gains made during the erstwhile year.

Robertson reported a turnover of £588m successful its latest results, representing maturation compared with the £650m it secured successful the previous, longer period.

Chief enforcement Elliot Robertson said: “The radical has illustrated its spot successful the marketplace and the resilience of its teams to present a beardown acceptable of results and prime of net successful what continues to beryllium challenging times for some our manufacture and the wider economy.

“Having taken the determination past twelvemonth to widen our reporting play by 3 months, we person been capable to proviso for the challenges imposed by COVID-19 and presumption ourselves good for recovery.”

Mace this period warned that tender prices were apt to emergence by a further 5.5 per cent successful 2022. The Construction Leadership Council in March said contractors were facing "serious difficulties" aft prices of definite operation products soared by a 5th successful the archetypal 2 months of the year.

Elliot Robertson said: “We are challenged by the existent clime of terms ostentation and worldly and labour availability.

“However, done our beardown proviso concatenation partnerships and our ongoing committedness to processing our talented people, unneurotic with rewards and retention strategies, we are resolute successful our assurance that the twelvemonth up volition person affirmative outcomes for the business.”

Robertson had nett funds of £74.5m astatine the extremity of past June, up from £34m a twelvemonth earlier. Its gross operating borderline accrued from 7.1 per cent to 9.7 per cent.

The firm’s mean headcount dipped from 2,773 to 2,607 implicit the latest reporting period.

Under Scotland’s strict lockdown rules, Robertson had to adjacent astir of its sites northbound of the borderline until mid-June 2020, portion its projects successful England stayed open.

More than 1,000 unit astatine the steadfast were furloughed during the archetypal lockdown and Robertson suffered a £6.7m operating loss successful the 15 months to the extremity of June 2020.