Wates Group sees ‘significant growth’ in Yorkshire market as turnover hits £1.53bn

The Wates Group, the construction, development and property services company, has reported a 2016 turnover of £1.53bn, a 20.4% increase on 2015.

The company, which employs over 200 people in the North East and Yorkshire, is currently building MEPC’s Wellington Place in Leeds.

Wates Group ended 2016 with a forward order book of £3.6bn and reported a pre-tax profit increase of 17.1% to £35.5m.

During this period, the company announced its intentions to expand its housing investment and sales-led development with the launch of its national development arm, Wates Residential.

Throughout 2016, Wates had a total of 2,000 new homes either completed or under construction. This saw Wates Residential build a range of extra care apartments on behalf of Hull City Council and Riverside and Hull City Council’s £8.4m affordable housing development in Orchard Park.

Highlights in 2016 included Wates Living Space’s nationwide maintenance of over 500,000 homes on behalf of social landlords. In Yorkshire, this included a £5.5m contract to install new windows and doors across Sheffield City Council’s estate.

The year also saw Wates integrate SES Engineering Services as well as trade and assets of construction projects from Shepherd Construction Ltd following the acquisition in October 2015.

Phil Harrison, managing director, Wates Construction Midlands & North, said: “2016 has been a successful year for Wates.

“We have seen significant growth of our business in the Yorkshire market, through which we have developed an ever stronger network of local supply chain partners to help boost the local economy and increase investment in training.

“Wates’ resilience and reputation as a leading and trusted contractor in the region has positioned us perfectly to immerse our business in the renewed confidence that has emerged across Yorkshire.

“Our focus is now on extending our 2016 success into 2017 and ensuring that we continue to deliver high quality and value for money for new and prospective clients in the region.”

Jo Jamieson, managing director of Wates Residential, added: “Wates Residential has a well established reputation as an expert housing developer in Yorkshire and the success we have seen in 2016 is a true testament to our leading position in the region’s industry.

“Building new homes is now more than ever a business of balancing quality with efficiency, a combination that the Wates Group has expertly refined throughout its 120-year history.

“The past year has seen Wates Residential further its commitment to giving back to the communities in which we work and I can say with confidence that our neighbours will have also felt the benefits of our business’ positive performance throughout the year.”

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