Progressive publish new research

RNS Number : 0509R

Watkin Jones plc

02 November 2021

 

Demand grows in rental and student markets Residential-for-rent developer and manager Watkin Jones has confirmed in today's trading update that operating profit for the year to September 2021 will be in line with expectations, but that year-end net cash of £125m is £40m ahead of our estimates. We are not changing our FY22E P&L estimates but have increased our net cash in line with the 'beat' for FY21E. The statement precedes today's Capital Markets Day at which WJG will highlight its sustainability and affordable homes strategies against what we see as a backdrop of increasingly supportive build-to-rent and student markets.

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