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Robertson reports £2m loss and forms new group structure

Robertson has a pre-tax loss of £2 million on turnover down 4 per cent at £157.1 million.

But despite posting the loss for the year to 30 November 2008, executive chairman Bill Robertson said the group is well-positioned to exploit the next growth cycle.

Robertson’s 11 businesses include seven regionally-based construction companies, a property development company, a timber frame manufacturing business, a facilities management company and a business dedicated to PFI and PPP investments.

Mr Robertson said that the economic downturn had been extremely challenging for many of his businesses.

But in dealing with the challenges encountered in 2008, he has successfully reshaped the businesses most affected by the downturn.

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 has continued to progress its strategy of demerging mature businesses to allow them the opportunity for accelerated value creation.

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

With this change in place Robertson now consists of three operating groups that work across the UK and Ireland.

The construction group is expected to generate a turnover in excess of £120 million in its first year of trading.

Robertson Homes, now a separate trading company in its own right, in keeping with its peer group, sufferred a significant  downturn in activity recording a pre-tax loss of £8.1 million on a turnover of £38 million.

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

Mr 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.

“We believe the re-shaping and corrective measures implemented will allow Robertson Homes to maintain and strengthen its position as one the country’s most established house builders during the next upturn for the sector.”