2019 financial accounts and reports

2019 financial accounts and reports

The Wates Group has reported increased turnover, profits and cash reserves for the year ending 31 December 2019.

Turnover increased to £1.63bn (up 2.1%), while profit before taxation was £36.2m (up 0.8%). The Group maintained strong cash balances throughout 2019, finishing the year with £142.2m, an increase of 25% on 2018.  In extending its bank facilities to £120m, the business secured a significant endorsement and valuable backing from all three of its banks.