Wates Group reported pre-tax profits of £35.7m (£35.5 in 2016), from a turnover of £1.62bn (£1.53bn in 2016) for the year ending 31 December 2017.

We ended the year with a record order book of £5.1bn – with a cash position of £169.5m.

• Turnover up by 5.9% from 2016
• Profit before tax up 0.7% from 2016
• Operating profit (EBITDA) up 3.8% at £47.2m
• Net assets up 68.9% to £119.4m (2016: £70.7m)

PRESS RELEASE: 19 March 2018 – Wates demonstrates continued strength with excellent performance

These are really positive results for the Wates Group, demonstrating our continued success in what has been a challenging year for the sector. They attest to the quality and commitment of our people, the strength of our relationships with customers and partners, and our robust financial management.

These results reflect our belief that profitability has to be linked to the long-term sustainability, of not only our company, but of the industry and the communities in which we work.”

 

James Wates CBE, Chairman, the Wates Group