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Company No. 01977948 · Incorporated 15 Jan 1986

Wates Construction Limited

Registered name: WATES CONSTRUCTION LIMITED

Part of 1260 Family Holdings Limited group

Wates Construction Limited made £2.4bn revenue and £23.1m profit in the year to 31 Dec 2025.

Wates Construction Limited’s revenue grew 7% to £2.4bn in the year to 31 Dec 2025, with £23.1m profit and 5,754 employees. The company is classified under “construction of commercial buildings” and is based in Leatherhead; we hold 3 years of its filed accounts.

Full P&L filedSection F · ConstructionSIC 41201Construction of commercial buildings
Status
Active
Location
Leatherhead, London
Age
40 yrs · since 1986
Type
Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.

Latest accounts · year to 31 Dec 2025

Key figures

Revenue
£2.4bn
Growth ▲7%
Profit
£23.1m
Growth —
Profit margin
1%
Gross 12.5%
Employees
5,754
Change ▲21.6%
Profit / employee
£4k
Revenue/employee £417k
Profitable streak
1yr
Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to31 Dec 202331 Dec 202431 Dec 2025
DisclosureFull P&LFull P&LFull P&L
Profit & loss
Revenue (turnover)£2bn£2.2bn£2.4bn
Cost of sales−£1.8bn−£2bn−£2.1bn
Gross profit£184m£234m£301m
Operating profit£6.9m−£4.9m£26.1m
Profit before tax£17.2m£1.3m£35.2m
Profit after tax£10.2m−£2.5m£23.1m
Profit (best available)£10.2m−£2.5m£23.1m
Employees (average)3,9074,7325,754
Ratios
Profit margin0.5%−0.1%1%
Gross margin9%10.4%12.5%
Revenue per employee£519k£474k£417k
Profit per employee£2.6k−£530£4k
Growth (year on year)
Revenue growth—▲10.7%▲7%
Profit growth—▼124.6%—
Headcount growth—▲21.1%▲21.6%
Balance sheet — indirect signals, not revenue
Net assets———
SourceAccounts · bulk data Apr 2025Accounts · bulk data Apr 2025Accounts · bulk data Aug 2026
Derived from the latest filing

How the business works

Profit margin
1%
Profit ÷ revenue.
Gross margin
12.5%
Gross profit ÷ revenue. High for software and services.
Revenue per employee
£417k
Revenue ÷ average employees.
Profit per employee
£4k
Profit ÷ average employees.
Cash conversion
—
Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue
—
Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue
—
Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue
—
Money owed by customers. Low = customers pay quickly.
Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets
—
Now —
Cash at bank
—
Now —
Headcount
▲22%
Now 5,754
Deferred income
—
Now —
Fixed assets
—
Now —
Corporate ownership

Group structure

Ownership chain

  1. 1260 Family Holdings Limitedultimate parent75–100%
  2. Wates Group Limited75–100%
  3. Wates Construction Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (15)

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from accounts for the year to 31 Dec 2025 (profit £23.1m), from the Companies House accounts bulk data published Aug 2026. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.