Wates turns to stockpiling and Brexit clauses

By Will Ing2019-03-22T06:00:00

But chief executive David Allen says firm is confident of 10% revenue growth this year

Wates has said its turnover will increase by more than 10% in 2019 as it turns to stockpiling and special contract clauses to see off the threat of delays posed by Brexit.

Yesterday the firm announced its results for the year ended 31 December, revealing its construction turnover dropped 9% while profit nudged up by 1% and revenue across the group remained stable.

But Wates’ chief executive David Allen (pictured) told Building: “We are expecting significant turnover growth this year for the group and for construction – and that’s growth in excess of 10% [for both].”

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