The Wates Group has reported increased turnover, profits and cash reserves for the year ending 31 December 2019.
Key figures include:
- Turnover at £1.63bn, an increase of 2.1% (2018: £1.601bn)
- Profit before taxation up 8% to £36.2m (2018: £35.9m)
- £142.2m cash balance, up 25% on 2018
- Net assets up 2% to £152.4m (2018: £135.8m)
- Significant endorsement secured during the year from an expanded group of banks, with a funding line increased from £87m to £120m
- Record order book of £5.9bn, up 9.2% (2018: £5.4bn)
- EBITDA of £48.8m, up 6% (2018: £48m)
Watch our animated video of our 2019 performance highlights
"The Wates Group's financial performance in 2019 was excellent. We ended the year in a position of substantial financial strength, with significant cash reserves and the support of our banks."
Chief Executive, Wates Group
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