After a restructuring process, construction organisation Robertson Group has set its sights on major education and health projects.


The company recently sold off its PFI investments in order to strengthen the firm’s balance sheet with a view to deliver a 5% operating margin across the business within the next three years.


Chairman Bill Robertson announced the group (originally a Scottish operation but now trading from Oldham and Gateshead) are no longer planning to float on the stock market.


Robertson said: “Releasing profits in the business through the sale of investments has allowed these profits to flow onto the balance sheet of the business which is now increased to £63.3m.


“This in itself addresses the difficulty in attracting banks and funders to the business on a competitive basis.”


“Going forward we are going to target more major projects across the UK, particularly in health and education using our own internal and external supply chain.


“The business has been strengthened through development of our in-house capabilities for civil engineering and building services.”


“We are delighted to report that our current construction order book sits at £402m, which is a 52% increase on the same period last year.


“Our objective now, is to select higher value projects to improve the profitability of the business.”


“It had been our intention to float the business in the near future. However, the timing of that will be determined by the achievement of long term sustainable higher profitability.”