Wates boss sets out plan to double turnover to £2bn

摘要

Contractor Wates is aiming to double turnover to £2bn as part of a long-term growth plan, the new boss of the family-owned business has revealed. In his first major interview since taking up his role in January, Wates chief executive Andrew Davies told Building the "longer-term" aspiration for the business was to double revenue at the £931m-turnover firm. Davies, who took over from long-standing executive chairman Paul Drechsler in January, has been asked by the Wates family to come up with a plan to achieve a doubling of the business, with the initial strategy due to be presented to the board next month. Davies will have to turn round the trajectory of the firm, with turnover falling by 22% in 2013, from £1.2bn the previous year to £931m.