The building contractor’s NSW revenue sank 44 per cent just as the chance came along for it to buy failed builder Probuild’s projects in Victoria.
Roberts Co, the building contractor founded by Rich Lister Andrew Roberts, seized the chance to acquire the Victorian assets offor just $1 as revenue in Roberts’ home market of NSW dropped by more than two-fifths, newly published accounts show.
In the accounts Roberts Co said it planned to expand its NSW business, following the year in which it completed three projects – the Concord Repatriation Hospital redevelopment in Sydney’s inner west, schools in the Meadowbank Education and Employment Precinct and Holsworthy hospital in the city’s south-west.The value of NSW construction under way or about to commence was $800 million, less than the Victorian equivalent figure of $860 million.
The financial documents also show that in March, ahead of completing the Probuild deals, Roberts Co appointed defence sector head Kevin Gomez as a director of its soon-to-be-created Victorian operation, alongside Probuild managing director Luke Stambolis.
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