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Wates feels the pinch as profits slip

25th March 2013

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The culture building at First Street

The culture building at First Street

CONSTRUCTION group Wates reported an increase in revenue in 2012 but profits were down during a "tough year".Group turnover rose 7% to £1.2bn but pre-tax profits, adjusted for the impact of restructuring costs, slipped 10% to £29m.In a statement it said just under a 10th of revenue, or £115.5m, came from its activities in the North West. This was up 24% on 2011.The family-owned Surrey-based firm has Northern bases in Warrington and Altrincham and is building the £25m cultural centre at First Street, Manchest......for the full story register now for free or login below...


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