Wates Group to hire 300 to build on construction success
Wednesday 13 April 2011 7:53 AM
Wates Group, one of the UK's biggest private construction companies, has reported a 12pc rise in profits despite public spending cuts and the uncertain economy.
The company, owned by the Wates family, secured a 4pc rise in revenues to £985m last year, with pre-tax profits increasing to £43.5m.
About 300 new staff will be hired in 2011 to meet an upturn in work. Paul Drechsler, chairman and chief executive, said Wates has a £2bn order book which is "one of the strongest in the industry".
Its projects include a renovation of Birmingham Town Hall and constructing Chelsea Academy.
Wates also has a house-building arm and fits out shops for retailers.
Mr Drechsler said: "2010 was a challenging year with the UK economy still in recovery. However, through close collaboration between our clients, our supply chain partners and our people, we have been able to create value by delivering high-quality projects, winning a strong forward order book and engineering cost efficiencies."
Also See