Robertson Group has revealed it is on course to almost double turnover to £500 million in the next three years after reporting a record 20 per cent rise in turnover to around £300m.

In a preliminary announcement in advance of its annual report for the year ended 31 March 2015, the Elgin-based infrastructure firm said today that it is looking towards further ambitious expansion as the Group prepares to enter its 50th year.

Robertson Group, which employs over 1,500 people across the UK, is now midway through the final year of a five-year plan, which has seen it straddle the recession and produce double-digit growth despite the challenging business environment.

In the 12 months ending March 2015, founder and executive chairman Bill Robertson CBE led a programme of growth and diversification, targeting higher value workload and resulting in the creation of seven new businesses and further expansion across Scotland and the North of England.

Commenting on the preliminary results, Bill Robertson said: “The Group is now midway through the final year of a five-year plan and expects to complete the fifth year well ahead of expectation.

“The results last year were impressive and included strong growth to our balance sheet from the release of profits held in long-term investments being reinvested into the business. The results for the year we are just completing will show operating outcomes and profits before tax being generated from all of our businesses.

“Over the period of the plan we’ve created seven new operating businesses and added 450 people to our workforce including an innovative young persons’ initiative. Our framework of companies located around the UK provides a sound base for quicker growth in the future and is already exceeding expectations.

“The plan that started in 2011 was designed to address a changing market but also provide the structure and resource to secure the long-term future of the group.

“Our sector was particularly badly hit by the recession and the effect of the collapse on the banking sector. No one could have foreseen the dramatic shift in lending criteria that followed and today we must now learn to live in a different funding environment.

“Although banking has not returned to where it was for many years pre-recession, we are confident that funding for future projects in the industry will be available in support of the great opportunities that exist in the market today.”