REG - Watkin Jones plc - HY 2026 Trading Update

Watkin JonesAnnouncement

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RNS Number : 2761C  Watkin Jones plc  29 April 2026

 

 For immediate release  29 April 2026

 

 

Watkin Jones plc

('Watkin Jones' or 'the Group')

 

HY 2026 Trading Update

 

Continued strong operational execution

 

Watkin Jones, a leading UK developer and manager of residential for rent,
provides the following trading update for the half year ended 31 March 2026
(the 'period' or 'HY 2026').

 

Trading

 

The Group continued to see strong operational delivery during the period, with
in-build schemes achieving margins in line with our stated guidance. HY 2026
operating profits are expected to be at a similar level to HY 2025, despite a
reduction in revenue caused by lower levels of transactional activity.

 

Operations

 

The Group has signed two new transactions during the period - a further PBSA
scheme in Bristol through our existing joint venture with Maslow Capital, and
a scheme to deliver a hotel on a brownfield site in Wimbledon. We are actively
marketing a number of schemes which have the potential to underpin delivery of
an improved second half performance.

 

We continue to be encouraged by the number of attractive opportunities which
we are seeing in Refresh and Development Partnerships. In particular, we have
seen an increase of 20% in our Development Partnerships' pipeline which has
helped maintain the Group's overall pipeline in line with that at FY 2025.

 

Continued effective cash management resulted in a robust period end position,
with gross and net cash at 31 March 2026 of c.£67m (FY 25: £80m) and c.£61m
(FY 25: £70m), respectively.

 

Outlook

 

We continue to monitor the evolving geopolitical and economic backdrop and are
mindful of any consequential impacts on confidence and activity in our
residential investment and construction markets. We are taking proactive
steps, where possible, to mitigate potential increases in build cost
inflation, including earlier procurement of selected sub-contract packages and
forward buying of materials.

 

Whilst the adverse movement in the UK interest rate outlook since early March
has created greater uncertainty with regards to future transactional liquidity
conditions, the Group will continue to be agile in optimising its pipeline
whilst continuing to diversify its revenue streams.

 

- Ends -

 

For further information:

 

 Watkin Jones plc
 Alex Pease, Chief Executive Officer                                                                                                   Tel: +44 (0) 20 3617 4453
 Simon Jones, Chief Financial Officer                                                                                                  www.watkinjonesplc.com

 Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)                                                                            Tel: +44 (0) 20 7418 8900
 Mike Bell / Ed Allsopp                                                                                                                www.peelhunt.com

 Singer Capital Markets (Joint Corporate Broker)   Tel: +44 (0) 20 7496 3000
 Sara Hale / Graham Hertrich / James Todd          www.singercm.com
                                                   (https://protect.checkpoint.com/v2/r06/___http:/www.singercm.com___.ZXV3MjpuZXh0MTU6YzpvOmI4NWVhODUwNGZlNTQyZGQxNDljZDJjMGI5MDkwYTk5Ojc6MWE4ZTplZTMyYmQ2MjVlN2Y4NmRmNjRmYzRhNDVhNmY4NWFjYmRkNjgzMzZmZDkzMjFlODIxOGE1ZmY3NzJkNjViMjRjOnA6RjpU)

 Media enquiries:

 MHP Group (Financial PR)                                                                    Tel: +44 (0) 7711 191518
 Reg Hoare / Rachel Farrington / Catherine Chapman                                           www.watkinjones@mhpgroup.com

 

Notes to Editors

Watkin Jones is the UK's leading developer and manager of residential for
rent, with a focus on the build to rent, student accommodation and affordable
housing sectors. The Group has strong relationships with institutional
investors, and a reputation for successful, on-time-delivery of high-quality
developments. Since 1999, Watkin Jones has delivered over 51,000 student beds
across 150 sites, making it a key player and leader in the UK purpose-built
student accommodation market, and is increasingly expanding its operations
into the build to rent sector, where it has delivered 3,400 apartments across
19 schemes to date. In addition, Fresh, the Group's specialist accommodation
management business, manages c.21,000 student beds and build to rent
apartments on behalf of its institutional clients. Watkin Jones has also been
responsible for over 80 residential developments, ranging from starter homes
to executive housing and apartments.

 

The Group's competitive advantage lies in its experienced management team and
capital-light business model, which enables it to offer an end-to-end solution
for investors, delivered entirely in-house with minimal reliance on third
parties, across the entire life cycle of an asset.

 

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker
WJG.L. For additional information please visit www.watkinjonesplc.co
(https://protect.checkpoint.com/v2/r06/___http:/www.watkinjonesplc.com___.ZXV3MjpuZXh0MTU6YzpvOjk5NWY2NGYyYTEyNjBkZmM5MWNkOTYyMzcyYThmNGJkOjc6ZjY1ODplNzAyOTQ2YjJhOWEyN2NlZjliM2I0ZWViMjY5NmUyODU4YjgzYmY1Y2U1NDU3OTQ4YzFhZTJlMmFkMjVkOTRkOnA6RjpU)
m
(https://protect.checkpoint.com/v2/r06/___http:/www.watkinjonesplc.com___.ZXV3MjpuZXh0MTU6YzpvOjk5NWY2NGYyYTEyNjBkZmM5MWNkOTYyMzcyYThmNGJkOjc6ZjY1ODplNzAyOTQ2YjJhOWEyN2NlZjliM2I0ZWViMjY5NmUyODU4YjgzYmY1Y2U1NDU3OTQ4YzFhZTJlMmFkMjVkOTRkOnA6RjpU)

 

 

 

 

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