Roberston Construction Group made a pre-tax profit of 拢14.4m for the 15-month period to 30th June 2020, despite incurring charges of 拢7.9m in relation to Covid-19.
Having changed it financial year-end, turnover for the 15-month reporting period was down 16% on the previous full year, at 拢513.2m (2019: 拢609.4m). Pro rata, however, turnover was down 33%.
Similarly that 拢14.4m pre-tax profit for the 15 months was down 64%, pro rata, on the 拢32.2m result for the year to 31st March 2019.
The fall in revenue was attributed not just to pandemic disruptions but also the completion of the 拢333m Event Complex Aberdeen project for Henry Boot during the year, which had contributed a full year of revenue in the previous financial year.
Total net cash held on 30th June 2020 was 拢87.3m (2019: 拢117.4m).
Finance director Irene Wilson said in the annual report: 鈥淭he effects of Covid-19 hit us in the middle of March when the UK went into lockdown. Our sites in England continued to operate, whilst adapting to health and safety measures necessary to ensure the safety of out workforce and subcontractor base. However, in Scotland the majority of our sites closed until the middle of June.
鈥淒espite the challenges arising from the pandemic, the group performed well, within an ever-changing market place and adapting our strategy to meet these challenges. Our longer-term strategy continues to have a positive effect on the business and we have a solid capital base.鈥�
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