Turnover at Wates Group jumped by more than 20% in the year to 31 December 2016, boosted in part by the the acquisition of Shepherd’s construction businesses.
In the group’s latest results for the year turnover reached £1.53bn in 2016, up from £1.27bn in 2015. Construction revenue was up 40%. Group profit before tax was up 17% to £35.5m, from £30.3m in 2015.
2016 was the first full year that includes the impact of the October 2015 acquisition of Shepherd Engineering Services (SES) and Shepherd FM together with a significant number of contracts and strategic frameworks from Shepherd Construction.
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