Wates to celebrate big profits by hiring new construction staff

The financial instability and the fluctuating economy still dominate the news headlines, but 2011 is actually shaping up to be quite promising for the construction industry. Following the news that the UK construction industry continued to grow in March, another construction firm has announced big profits this year.

Wates construction have posted profits for 2010 and have also announced that they plan to hire hundreds of new contractors this year.

Wates posted a 12% increase last year, making a total of £43.5 million in profits and upping their turnover to £985 million (that’s an increase of 4%).

And it’s not just the last year that has been good to Wates. With a future order book of contracts worth £2 billion, it’s looking good for Wates.

As a result of this, Wates have announced they plan to create 300 new construction jobs in 2011 to cope with their ever-expanding workload.

Wates’ chairman Paul Drechsler says, “to help deliver our ambitious growth strategy, we expect to hire around 300 new people in 2011.”

This is good news for the UK construction industry, as it shows that despite the recession, some companies are bucking the trend and performing well.

What do you think about this news? Let us know on here or on the Train4TradeSkills Facebook and Twitter pages.

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Posted on April 12, 2011, in construction jobs, construction news, electrician jobs, Plumbing News, train4tradeskills and tagged , , , , , , , , , . Bookmark the permalink. Leave a comment.

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