The construction, investment, development and facilities management group, Robertson, delivered a turnover down 4% at £157.1 million and has recorded pre-tax losses of £2 million.

Executive Chairman, Bill Robertson, stated 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.

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.

Despite posting losses to the year end November 30, 2008, Mr Robertson, believes the group is well-positioned to exploit the next growth cycle.

He insists that the businesses have adapted well to the changes, and by creating significantly lower operational cost bases, these businesses will now operate effectively under the continuing tough trading conditions being felt throughout the industry.

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"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.

"This not new and Robertson has continually evolved throughout the past 40 years to meet the demands of what has been an ever-changing market place and the businesses in the group will continue to do so." the Executive Chairman continued.

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 Capital Projects, the investment arm of Robertson, continues to succeed having recently been shortlisted to become the private sector delivery partner for the first Scottish Futures Trust's Hub scheme.

Elsewhere Robertson Property, which was also de-merged from the main Robertson group to form part of the Robertson Construction Group, unveiled Baltic Place – a £35 million prestige office development in Gateshead.

Robertson Timberkit has been hit badly by the collapse of the private housebuilding market.

However, all work has been secured till the end of 2009 and over 50% of planned turnover has been secured for 2010.

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

(GK/BMcC)