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Wates makes new appointment to executive board

Wates’ managing director for construction Paul Chandler has been appointed to the group’s board.

Mr Chandler joined the company from Skanska, where he had worked on the Gherkin and the Heron Tower, in January 2017.

Under Mr Chandler’s tenure the construction business has secured a number of major contracts, including a £500m renovation of the Parliament Northern Estate and a £1bn contract to redevelop 12 estates in east London.

Since taking over the business last year, turnover for Wates’ construction arm has increased to £932m in 2017, while the division’s order book stands at £3bn.

Construction accounted for the bulk of Wates’ £1.62bn turnover for the year ending 31 December 2017.

However, its fastest growing division was property services, which saw turnover increase from £427.7m in 2016 to £475m in 2017.

The company does not publish the operating profit figure for its individual divisions.

Wates had targeted turnover of £2bn a year by 2020. However, David Allen, who was made chief executive in April, told Construction News the firm had pushed back the target date.

The company was forced into a change of management when former CEO Andrew Davies left last November with the intention of taking over at Carillion.

Chief financial officer Mr Allen was made interim CEO at the time, with Rod Holdsworth stepping into the vacant CFO role.

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