Robertson falls £2m into red

Construction, development and facilities management group, Robertson has fallen £2m into the red for the year ended 30 November 2008.

The pre-tax loss compares to a profit of £5.7m the previous year.

The company, which is based in Scotland and the north of England, posted a 4% fall in turnover to £157m.

Despite the loss, executive chairman Bill Robertson was upbeat. He said: “I believe we have created businesses which are progressive and forward thinking and this will allow us to meet these challenges and position ourselves effectively to continue to expand throughout the next growth cycle for the industry.”

It has de-merged its seven regionalised construction companies from the main group to form the Robertson Construction Group, where turnover is expected to be £120m.

The remainder of the group includes a property development company, a timber frame manufacturing business, a £13m-turnover facilities management company and a business dedicated to PFI and PPP investments.

Robertson Homes, a separate housing business, made a £8.1m loss after what the company called “significant” writedowns, turning over £38m.

Robertson added: “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.”

He said private sector finance will play a crucial role when the upturn comes. He said: “While we have been able to rely on long term relationships with our funders over a very challenging period for banking, it is imperative private finance and investment begins to flow into the homes, property and construction sectors in anticipation of a possible reduction in public sector spend.”