RCS - Watkin Jones plc - Progressive publishes new research

Watkin JonesAnnouncement

17/05/2022 09:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220517:nRSQ7579La&default-theme=true

RNS Number : 7579L  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.

Click here for full analysis
(https://progressive-research.com/research/on-track-for-fy-forecasts-driven-by-rush-to-rent/)

 

Subscribe (https://www.progressive-research.com/register/)  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 (http://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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAARMRTMTIBMRT