Wates Group has reported a robust performance for 2025, with record turnover and its largest secured pipeline to date, a £10bn forward order book, according to annual results published on 22 April 2026.

The company achieved turnover of £2.56bn and statutory profit before tax of £29.2m, marking 26 consecutive years of profitability despite challenging market conditions across the built environment.

Wates closed the year with a record net cash position of £248.3m, up £52.7m year on year. Its forward order book rose by £1.3bn to £10bn, providing long-term visibility and underpinning future investment plans as well as confidence for customers, partners and its supply chain.

Management described 2025 as a year of consolidation following significant strategic investment and organisational change in 2024, including the integration of property services firm Liberty and the Wates Fit Out business, alongside leadership changes within Wates Construction and Wates Residential. The Group said these moves position it for its next phase of sustainable growth.

Performance reflected the benefits of a diversified portfolio. Wates Construction maintained profitability and margin discipline in a tough market, progressing high-profile schemes including the fit out and refurbishment of Lloyds Banking Group's Grade II listed Halifax office, continued delivery of more than 6,000 new prison places for the Ministry of Justice's New Prisons Programme, and the refurbishment of Victoria Tower on the parliamentary estate.

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SES recorded strong revenue growth as investment in offsite manufacturing and technology scaled up. A key ongoing project is the AESC UK gigafactory in Sunderland — the largest single-value scheme in Wates' history — being delivered jointly by SES and Wates Construction.

WPS reported record increases in revenue, profit, operating margin and order book, winning major decarbonisation programmes and securing an extension to its facilities management contract with JLL. Wates Residential posted record turnover and a record order book, with more than 2,000 homes under construction and planning consent granted for over 2,500 homes. Wates Land & Development secured every planning consent it pursued and advanced large-scale developments as principal developer, including progress on the 4,500-home Hammonds Farm scheme in Chelmsford.

The Group highlighted its purpose-led approach, stating it generated £18 of social value for every £1 of profit in 2025, contributing to a cumulative £1.4bn of social value since 2020. Investment in sustainable development also accelerated, with the launch of Wates Wildscape (a new nature and biodiversity business within Land & Development), large-scale social housing decarbonisation by WPS and continued expansion of SES's offsite manufacturing capability.

Eoghan O'Lionaird, Chief Executive, Wates Group, said: Our 2025 results demonstrate the resilience of Wates Group and the strength of our long-term model. Despite ongoing industry headwinds, we have delivered strong, sustainable and profitable growth, underpinned by a record £10bn forward order book and our strongest-ever cash position.

"Most important of all are the relationships we build. We work on a long-term basis with our customers, who trust our capability and governance. Guided by our purpose, we have continued to deliver not only strong financial results, but also meaningful impact for the communities we serve.

"I would like to thank our customers, partners and supply chain, and most importantly our nearly 6,000 colleagues. Their commitment and professionalism remain central to Wates' success."

Tim Wates, Chairman, Wates Group, said: "As a family-owned company with more than a quarter of a century of uninterrupted profitability, we remain focused on growth that is responsible, sustainable and grounded in our purpose.

"These results show the strength of that approach, both financially and socially, and with robust liquidity, a record order book and a clear long-term strategy, Wates is well positioned for the years ahead."

Wates said the scale of its secured work and strong liquidity provide assurance over delivery of nationally significant projects while continuing to invest responsibly for the long term. The Group's 2025 Annual Results are available to download at: www.wates.co.uk/wp-content/uploads/2026/04/Wates-2025-annual-results.pdf