Company reports 12% rise in profit for 2010
Wates has recorded a 4% growth in turnover and a 12% jump in profits for 2010.
In results announced yesterday, the contractor said its pre-tax profits for 2010 stood at 拢43.5m, up from 拢38.9m in 2009.
Turnover was 拢985m, but has still not topped 拢1bn as it did in 2008.
Paul Drechsler, chairman and chief executive, said he was 鈥渃onfident鈥� employment would rise 5-10% at Wates during 2011.
鈥淔rom what we can see at the moment, then I鈥檇 be hopeful we鈥檇 be looking at job growth,鈥� he said.
Wates has around 2,000 employees, so such a rise would boost job numbers by 100-200.
The company later said that it intends to create around 300 new jobs over the year.
Drechsler said: 鈥淥ur long-term aim is to be one of the UK鈥檚 leading providers to the built environment. We believe we have the financial strength, the strategy, the talented people ,the customer relationships and strong supply chain partnerships to realise our goal.鈥�
No comments yet