financial

The Wates Group has established itself as one of the most financially secure companies in the construction sector.  In 2009 we were recognised for outstanding profit growth by being ranked sixth in the prestigious private company index, the Sunday Times PricewaterhouseCoopers Profit Track 100 rankings.

Wates has significant liquidity, no reliance on external funding and no toxic assets. 
This strong financial base is a key differentiator in today’s volatile market.

In 2008 Wates once again recorded strong performance and profit growth and broke the
£1 billion mark for its turnover.  This milestone was achieved while also strengthening the balance sheet.

Huw Davies, Chief Financial Officer of Wates said: “The organisation’s turnover and profit before tax have been tracking steadily upwards for the past five years.  The Wates balance sheet shows significant liquidity and no toxic assets which, combined with long term commitment from the family owners, provides a strong financial base in today’s uncertain markets.”

Highlights from 2008 Annual Results included:

• Group profit before tax up 25% to £47.1 million
•  Group turnover exceeded £1 billion for the first time; up by 6% to £1,009 million
• Year end cash balance at £169.5 million; up 27% from 2007
• Group net assets increased to £62.1 million
• Group profit margin at 4.7%
• Forward order book remained strong at £2 billion

To download a pdf of our Annual Report and Accounts (summary) click here

To download a pdf of our Annual Report and Accounts (full) click here