Watkin Jones plc Progressive publishes new research
May 17 2022 - 10:53AM
RNS Non-Regulatory
TIDMWJG
Watkin Jones plc
17 May 2022
On track for FY forecasts driven by rush to rent
Residential-for-rent developer and manager Watkin Jones has confirmed it is on track to meet
FY2022E expectations of rising profits in today's interim results, which showed an 8% rise
in revenue and a temporary decline in adjusted PBT, reflecting previously signalled timing
and mix of sales. We are maintaining our estimates for FY2022E-23E, which show 21% compound
growth in PBT. Longer term, we expect further growth fuelled by increasing demand for rental
property from tenants and international investors.
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