Financial results for the year ending 30 June 2023 show turnover was up to £670.9 million, from £615.6m in 2021-22, while pre-tax profit was down at £16.7m, from £21.2m the previous year.

The Elgin-based construction firm said it had faced “unprecedented levels of inflation across materials, labour and energy”, while higher interest rates squeezed public and private sector budgets.

In his annual review, founder and executive chairman Sir Bill Robertson said the figures for the 12 months to 30 June 2023 reflected “a year of positive progress and trading”.

He added: “The group has had a solid year and built on progress since the Covid-impacted years.

“The blend and diversity of businesses across the group has contributed to our sustained margin position.

“During the year the group continued to experience unprecedented levels of inflation across materials, labour and energy, but in conjunction with our clients and supply chain, we have sustained our overall strategy of delivering a quality product and service on time and on cost, whilst achieving value for money for our clients and an appropriate margin for ourselves.”

Robertson’s average headcount jumped to 2,705 in 2022-23, from 2,551 the year before.

Net funds at year-end totalled £71.8m (2022: £75.9m).

Mr Robertson continued: “As a climate-positive business, we continue to reduce the environmental impact of our operations through innovation and the decarbonisation of our activities.

“Robertson Group is well-prepared for the coming year and, despite the economic challenges facing the sector and wider economy, we will remain profitable and on track to deliver our vision to assure a sustainable future.”