Chair of the group says it needs to achieve 鈥渉igher profitability鈥� before going onto the stock market
Robertson Group has shelved plans to float after concluding that would not achieve the level of interest it had hoped for in the current market.
The firm said it plans to build up long-term profitability before re-visiting the plans at a later date.
In a snapshot of the latest company results, chair Bill Robertson said there had been a change in business strategy.
He said: 鈥淚t 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.鈥�
According to the snapshot figures, Robertson Group鈥檚 turnover rose 13% to 拢261.3m in the 12 months to March 2014. It also reported pre-tax profit of 拢34.6m.
The company said it had also increased staff by 20% since 2008.
Regarding the company鈥檚 strategy, Robertson said: 鈥淲e are on year four of our five year strategic plan which would see us grow through the creation and development of regional businesses replicating our current group model but also broadening our product range.
鈥淲e also recognise the requirement to support small and medium sized enterprises in our supply chain, which has been severely damaged throughout the recession.
鈥淭o address our value and profit aspirations for the future, we can no longer be reliant on tender based opportunities, instead using a knowledge based approach to identify opportunities earlier, we expect to be able to improve the quality of opportunity and profitable outcomes through helping clients achieve better value.鈥�
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