The organisation is living up to expectations as a strong set of half-year results herald a successful start to the year.
Earlier today the Group’s interim results were announced to the City and show that we are performing well across all business areas.
Commenting on the interim results, Richard Simpson, Chief Executive Officer of Watkin Jones plc, said: “We are pleased to report another strong set of results, in-line with our expectations. The financial performance of the Group continues to be underpinned by robust student accommodation development activity and we are very encouraged by the increased contribution from the Group’s other operating divisions.
“Institutional investor demand for our student accommodation developments is strong and we continue to see quality new investors entering the market, such as DWS at Wembley. Similarly, investor momentum is growing in the Build to Rent (BtR) market, with a significant increase in reported transaction volumes in the first quarter of 2019. The majority of these transactions are forward fund purchases of assets, which plays to Watkin Jones strategy and heritage.
“We are able to leverage our proven expertise in developing and managing multi-occupancy residential rental accommodation and to continue be a partner of choice for institutional clients looking for scale. I continue to be very excited by the opportunities in this business, seeing the market dynamics for both student accommodation and BtR so strongly supportive of the Group’s forward sale model. Together with our pipeline of forward sold and secured development sites, this will continue to provide excellent visibility on future earnings and cash flow. Consequently, the Board remains confident in the prospects for the Group.”
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