Financial Information | Wates

Wates poised to grow with record forward order book and rising net cash balance

2020 results demonstrate Group's resilience and adaptability

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Highlights

  • Industry-leading health and safety performance, with a RIDDOR AFR of 0.038 and accident incidence rate 67% below the construction industry average (as reported by HSE)
  • 81% of all energy demand from renewable sources with 56% reduction in energy consumption
  • 26.8 million hours worked with 713 sites under construction during the year
  • Record order book of £6.6bn, up 13.5% from 2019
  • Cash at £215.9m, up 52% from 2019
  • Net cash of £161.6m (up £50.8m or 45.8% on 2019)
  • £1.8bn in new work secured from onset of pandemic (£2.4bn won during 2020 as a whole)
“The pandemic challenged us to work in different ways and to adapt. We reorganised our business to focus on helping to tackle the UK’s housing shortage, supporting the public sector to build back better and investing in the modern methods of construction that will enable us to meet our customer’s needs in the future. Together, we have set the business up to succeed and we remain committed to our goal of becoming the most sustainable, trusted and progressive business in the sector.”
David Allen
Chief Executive, Wates Group

2020 Annual Accounts and Reports

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Annual Reviews & company credentials

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