Wates expecting profit this year to approach 2019 levels after being hammered by covid last year

By Dave Rogers2021-03-16T10:09:00

Firm says optimism being fuelled by government’s commitment to construction

Wates has become the latest contractor to say this year’s profit will be approaching 2019 levels after the firm’s bottom line was ravaged by the pandemic last year.

Listed peers Morgan Sindall and Balfour Beatty have both recently said they expect their results this year to mirror those of 2019 and now privately-owned Wates, which has released its 2020 results today, said it was expecting a similar return.

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