Wates blames Brexit for fall in construction turnover

By Jordan Marshall2019-03-21T06:00:00

Firm saw a 9% drop in revenue at its construction business

Wates has blamed the lingering effects of the Brexit referendum for a drop in turnover at its construction business last year.

In its financial results for the year ending 31 December 2018, Wates’ construction business posted turnover of £849m – a 9% dip on its 2017 figure.

The contractor said the reduction was “a residual effect of the deceleration in the market in the quarters before and after the EU referendum.”

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