Robust performance in challenging market for construction group

CONSTRUCTION group Wates has posted turnover of £99.1m in Yorkshire and Humber as it saw its national order book climb 50%. 

The group, which is currently delivering the new £35m production facility HARIBO in Wakefield, reported overall pre-tax profits of  £22.3m while turnover came in at £931m for the year ending December 31.

The group finishes the year with an order book of £2.4bn, a 50% increase on 2012’s £1.6bn and net assets of £79.1m, a 12.6% increase on last year.

Phil Harrison, managing director for Wates Construction Midlands and North, said: “Our performance both nationally and regionally has remained strong and our focus on delivering high quality and value for money has enabled us to sustain a resilient position in the market place throughout 2013.

“Moving forward, steady economic growth will continue to boost our business pipeline and give us new means to invest in our people and ensure that our supply chain management continues to facilitate sustainable local economic growth. The turbulence of our market has undoubtedly required sharp adaptability and operational efficiency, our commitment to which has continued to give our customers the confidence in our position as a responsible and trusted contractor.”

Joanne Jamieson, regional managing director for Wates Living Space, added: “Our strong financial position and commitment to deliver on time and on budget is crucial to our customers, who are placing more emphasis than ever on reliability and the added value that Wates can bring to projects through our CSR activities. This is clearly demonstrated by our robust performance over the past year in the face of an incredibly challenging market place. We cannot be complacent but we are well placed to take advantage of the opportunities emerging in the new build and maintenance housing sectors as the construction industry continues to strengthen.”

Leeds-based Wates Construction is currently delivering the new £6m Selby Leisure Centre, which was procured via the YORbuild framework. Wates Living Space was recently appointed to build 112 new homes in South Elmsall for Chevin Housing Association.

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