UK's Watkin Jones tumbles after profit warning
21/08/2024 08:41
** British property developer Watkin Jones' WJG.L shares
slump more than 29% to 36 pence; top loser across London stocks
** Stock at lowest level since Oct 2023
** Co does not expect adjusted operating profit in FY 2025
to be above FY 2024
** Adds that overall market activity through the summer has
been slower than forecasted, mainly due to the continued
uncertainty over the pace of interest rate cuts
** Sees 2024 adj operating profit to be in the range of 10
mln pounds to 12 mln pounds ($13.03 mln-$15.63 mln)
** As of last close, stock down about 9% YTD
($1 = 0.7675 pounds)
(Reporting by Radhika Anilkumar in Bengaluru)
((Radhika.Anilkumar@thomsonreuters.com;))