Wates Group reported pre-tax profits of £30.3m (£24.1m in 2014), from a turnover of £1.27bn (£1.05bn in 2014) for the year ending 31 December 2015.
We ended the year with a healthy order book of £4bn – a 34% increase on 2014 – with net assets of £93m and a cash position of £127m, up by £40m on 2014.
Total turnover £1.27bn (2014: £1.05bn)
Pre-tax profits of £30.3m (2014: £24.1m)
Group cash at bank (£127.4m) (2014: £87.4m)
Group net assets £93.3m (2014: £86.5m)
Order book up 34% at £4bn (2014: £3bn)
“2015 was a story of disciplined growth at Wates. Our sector has weathered some challenging conditions over the past few years, but despite this, our business performed extremely well. Growth of 21% in turnover has been accompanied by improved profitability across all areas of the business.
“Our reach and capacity grew with the acquisition of SES (Engineering Services) Limited, Shepherd Facilities Management and the assets of a number of construction projects from Shepherd Construction Limited.
“Our people continue to be our greatest asset. In recognition of this in 2015 we joined the 5% Club, committing that 5% of our UK headcount will be apprentices, sponsored students and trainees.”
Andrew Davies, Chief Executive, Wates Group