Wates boosts profits

20 March 2017 Contractor Wates has announced a 17% increase in pre-tax profits for the full year to the end of December 2016.

Pre-tax profits reached £35.5m, up from £30.3m the previous year, on turnover over £1.53bn, which was up 20.4% on 2015.

The company also announced an order book of £3.6bn and cited key contract wins such as work with the Defence Infrastructure Organisation as key to its success.

“The successful integration of SES Engineering Services as well as a number of construction projects from Shepherd Construction has broadened our coverage and capabilities,” added chief executive Andrew Davies.

Wates has a strong history working in the UK’s PPP market, including the schools sector and through its involvement in the Matrix Homes joint venture, which also includes the Greater Manchester Pension Fund, Manchester City Council and the Homes and Communities Agency.

This page was last updated on:
20 September 2017.

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