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Financial Results 2007
The Group has shown record performances across all divisions with the most successful results in Wates’ 100 year history.
Profit (before exceptional credit) increased 20% from £31.4m to £37.7m on turnover 10% higher.
The combination of this consistently improved business performance with a controlled has led once again to a strong balance sheet.
Alongside financial improvement, the Group also achieved significant progress against its key corporate responsibility programmes:
80% of the value of work in 2007 came from repeat customers, bringing us closer to our 2010 objective of managing 90% of business within strategic partnerships and frameworks.
- The Group’s output of waste to landfill has been further reduced with 80% diverted from landfill keeping us clearly on track to eliminate non-hazardous waste to landfill by 2010. An improvement of 12%.
- There was also further improvement in safety performance with 83%of Wates’ sites being injury.
- The Group’s Building Futures Programme, which enables long-term unemployed adults to get back into work, provided places for 110 individuals in 2007, of whom 65% secured permanent employment in communities where we work.
With a forward order book of £2bn, a strong pipeline of business across each of the Group’s strategic businesses is in place for 2008
For a hard copy of our Annual report and Accounts please email info@wates.co.uk