TIDMWJG

Watkin Jones plc

18 January 2022

 
Earnings beat estimates, driven by BTR hunger 
 Residential-for-rent developer and manager Watkin Jones today delivered an 11% rise in PBT 
 to GBP51.1m for FY2021, beating our estimate of GBP50.0m by 2.2%. There were similar 'beats' 
 in EPS and dividend, at 16.3p and 8.2p, respectively, driven by strong operational delivery 
 and cost control. We have maintained our earnings and dividend estimates for FY2022E, growing 
 at over 6%. We have also introduced forecasts for FY2023E, which assume accelerated earnings 
 growth of 31% as the strong development pipeline in the Build to Rent division, fuelled by 
 investor demand, feeds into revenue.

Click here for full analysis

Subscribe to Progressive's research, which is freely available to every type of investor, and be kept informed about our regular programme of investor engagement.

About Progressive:

Progressive helps you make informed investment decisions. FCA authorised and regulated, and with a 15-strong team of highly experienced analysts, we provide freely available institutional grade equity research and access to company management teams across every sector of the market.

www.progressive-research.com

 
         Broad coverage                      Analyst calibre 
       across 12 sectors 
 
 Business Services   Oil & Gas       15        with average       20 
                                   analysts                      years 
    Financials        Property                  experience 
                                                    of 
    Healthcare         Retail 
    Industrials      Technology      30+                       techMARK 
 Investment Trusts    Telecoms                industry based    Extel 
      Mining         Utilities                    awards       StarMine

For further information please contact:

Keith Hodgskiss

+44 (0) 20 7781 5300

khodgskiss@progressive-research.com

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word "Reach" in the source column of the News Explorer pages of London Stock Exchange's website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRABPMRTMTIBMPT

(END) Dow Jones Newswires

January 18, 2022 02:50 ET (07:50 GMT)

Watkin Jones (LSE:WJG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Watkin Jones Charts.
Watkin Jones (LSE:WJG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Watkin Jones Charts.