The Watkin Jones Group is one of the UK's leading developers of student accommodation with a reputation for consistently delivering high quality accommodation, on time, and to budget.
UK wide, our portfolio of developments range from purpose-built cluster flats and studios, to refurbishment projects and mixed-use schemes. Strategic choice of locations, coupled with cutting-edge design and exceptional build quality are the cornerstones of our success.

Today's students demand quality, affordability and exceptional connectivity with easy links to learning and leisure facilities as standard. This is an exacting combination but this is precisely the accommodation we deliver in prime locations nationwide.

Since 1999 we have developed more than 25,000 student units and have an in-depth understanding of this resilient property sector.

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Watkin Jones Group Fundamentals (WJG)

Pre-Close Trading Statement

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, is pleased to provide a trading update for the year ended 30 September 2016 (the 'period').

The Board expects to report a successful financial year with trading in line with its expectations.

As announced on 27 September 2016, Watkin Jones successfully completed, ahead of the 2016/17 academic year, ten developments across the UK with a total of 3,819 student beds. Watkin Jones has a record of on-time delivery of schemes and all developments expected to be completed ahead of the 2017/2018 academic year, remain on track. The Group continues to add sites to its strong development pipeline and, at 30 September 2016, it had a total of 21 developments with 6,814 beds targeted for delivery during 2017 and 2018.

The Group's pipeline beyond 2018 is also looking robust with over 2,000 beds across a number of sites already secured. This includes the proposed redevelopment of the Duncan House site in Stratford, London, to provide 511 beds of student accommodation, 44 residential apartments and approximately 28,000 square feet of academic and office space. The scheme has a gross development value in excess of £100 million and is due for delivery in 2019.

Fresh Student Living, the Group's asset management subsidiary, continues to progress well, and now has 12,337 beds under management for the 2016/17 academic year (8,310 under management during the 2015/16 academic year).

The pipeline going forward provides the Group with strong visibility of earnings and cash flows and underpins our strategy in the near term. As a result, and with interest from investors in Purpose Built Student Accommodation remaining consistently strong, the Board remains confident in the outlook for the Group.

Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "It has been a busy year for the Group and excellent progress has been made. Not only have we delivered 3,819 beds across ten sites in the UK, but we have also successfully made the transition to being a public company. Our performance in the year reinforces the attractiveness of our end-to-end business model to investors, whilst our development pipeline continues to provide excellent visibility of earnings and cashflow."

The Group will be announcing its Final Results on Wednesday, 18 January 2017. An analyst briefing will be held at 09.30hrs at the offices of Buchanan, 107 Cheapside, London EC2V 6DN.

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Peel Hunt Buy 120.00 130.00 140.00 Reiterates

Beaufort Securities Speculative Buy 120.50 125.00 148.00 Reiterates

Cardiff and Belfast developments forward sold

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, announces today that it has forward sold another two of its developments to two institutional investors, both for undisclosed fees. The first development is situated on Bridge Street in Cardiff and the other is situated on Queen Street in Belfast.

The Cardiff development occupies a prominent position in Cardiff City Centre, and is located close to Cardiff Queen Street station. The 472 bed scheme is due for delivery in August 2018, ahead of the 2018-19 academic year. The Belfast development also occupies a prominent position in Belfast City Centre directly opposite John Bell House that was completed by Watkin Jones in August this year. This 340 bed scheme is also due for delivery in August 2018, ahead of the 2018-19 academic year.

Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "We are delighted to announce today that we have forward sold our developments in Cardiff and Belfast to two institutional investors in purpose built student accommodation, which further underpins the visibility of our earnings and cashflow. The interest in the sector remains strong."

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''which further underpins the visibility of our earnings and cashflow''.

How can that be when both developments were sold for ''undisclosed fees''

Update on Developments

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, is pleased to provide the following update on a number of its developments.

Additional forward sale
The Group announces that it has forward sold the student accommodation element of its Duncan House development in Stratford High Street, E15 to an institutional investor for an undisclosed fee. This forward sale follows on from the announcement in June 2016 that the Group had received planning consent to progress with the redevelopment of the site. The proposed redevelopment consists of 511 beds of student accommodation (420 ensuite clusters and 91 self-contained studios); 44 residential dwellings including a proportion of affordable housing in a mix of 1, 2 and 3 bedroom units; a new education facility with 3,150m2 gross internal floor area ('GIA'), and 688m2 GIA of affordable business workspace. The residential units and academic floor space that form part of the wider scheme will be sold in separate transactions by Watkin Jones. The total gross development value of the scheme is in excess of £100million. Demolition work has started on site and the development is anticipated to be completed in the summer of 2019, ahead of the 2019-2020 academic year.

Planning consents
Watkin Jones also announces that it has received planning consents for three developments, two in Aberdeen and one in Sheffield. The Aberdeen schemes include the redevelopment of Pittodrie Street, which is in close proximity to Aberdeen University, providing 618 beds of student accommodation and Caledon House, which is situated in a prime location opposite Robert Gordon University and will provide 199 beds of student accommodation (147 ensuite clusters and 52 self-contained studios). Caledon House is scheduled to be completed in the summer of 2018, ahead of the 2018-19 academic year, whilst the Pittodrie Street development is expected to be completed in the summer of 2019, ahead of the 2019-20 academic year. The development in Sheffield is located in Rockingham Street, in close proximity to the University of Sheffield, and will provide 543 beds of student accommodation (457 ensuite clusters, 69 self-contained studios and 17 one bed apartments) as well as two commercial units totalling approximately 4,340 square feet. Rockingham Street is due for delivery in the summer of 2018, ahead of the 2018-19 academic year.

Completed scheme sale
Furthermore, the Group is pleased to announce that its Athena Hall development in Ipswich has now been sold for an undisclosed amount to Arlington Investors Limited ("Arlington"). Situated on the Quayside in Ipswich, Athena Hall services the University of Suffolk and comprises 590 student beds. Built by Watkin Jones, the development was completed in 2010 and has since been held and operated in a joint venture arrangement. Athena Hall has been managed by Fresh Student Living Limited ("Fresh"), a wholly owned subsidiary of the Group, and Fresh will continue to manage the asset for Arlington.

Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "It is very pleasing to provide such a positive update on a number of our developments, all at different stages of their life cycle. The planning consents granted for Pittodrie Street and Caledon House are exciting as Aberdeen is an important contributor to the knowledge economy in Scotland, with two universities and approximately 21,000 full time students, and there is a recognised need for purpose built student accommodation in the city. The redevelopment of Rockingham Street in Sheffield provides us with an opportunity to further extend our reach in this important University city.

"With the forward sale of the student accommodation development at Duncan House now completed we can concentrate on the construction phase of this significant development, which will serve the University of London when completed in the summer of 2019. We expect the Duncan House development to make an important contribution to our earnings over the next three years.

"The Group's share of net funds from the sale of Athena Hall will add to our cash position and through Fresh we will have the added benefit of continuing to manage the asset going forward."

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How can they sell developments for ''undisclosed amounts''?
2517

Peel Hunt Buy 116.50 140.00 155.00 Reiterates

Finally attempting to break out of a tight range.

Full year results for the year ended 30 September 2016

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, announces its maiden annual results for the year ended 30 September 2016. The Board is pleased to report a successful financial year with trading in line with its expectations.


more.....

Peel Hunt Buy 121.88 155.00 155.00 Reiterates

Just bought some .

Watkin Jones (LON:WJG, 129.50p) – Speculative Buy

The leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, yesterday announced its maiden annual results for the year ended 30 September 2016. The Board reported a successful trading in line with its expectations. Strong revenue growth and record operating profit, before exceptional IPO costs, were driven by student accommodation developments. Robust cash performance, with a net inflow (from operating activities but before exceptional IPO costs) of £41.7 million (2015: £28.4 million). Year-end net cash of £32.2 million (2015: £39.1 million) came after exceptional IPO cash costs of £26.6 million, £14.5 million cash cost of acquiring Fresh Student Living ('Fresh') and £10.0 million dividend to existing shareholders prior to IPO. Watkin Jones development pipeline remains strong, with 9,469 student beds across 27 sites, with 15 forward sold and seven more forward sales in legal negotiation. Of these, 2017 deliveries alone already include nine student developments (2,860 beds) sold and one operational asset (590 beds) with the remaining 454 beds in legal negotiations. Having paid an interim dividend of 1.33 pence per share in June, the Board has recommended a final dividend of 2.67 pence per share, giving a total dividend of 4.0 pence per share. With Admission having taken place towards the end of the first half of the financial year, this total dividend represents two thirds of the full year equivalent, giving an initial yield of 6% based on the placing price of £1 per ordinary share. This is in line with management's stated intention at the time of the IPO. The dividend will be paid on 28 February 2017 to shareholders on the register at close of business on 27 January 2017. The shares will go ex-dividend on 26 January 2017.

Our view: An excellent business model delivering strong maiden results. Confidence is underscored by an exceptional pipeline while delivering gross margins for the year on student accommodation developments of 20.5%, compared to 18.2% for FY 2015. This improvement reflects both the move to sole development of own projects and away from lower margin contracting work for other developers. The Group's 'forward sale' model means that FY 2017 will also benefit from progress on schemes delivering in later years, including the eleven that look to complete in FY 2018, of which ten have planning consents while planning has been submitted on the remaining one. Some of its larger 2019 schemes will also contribute to FY 2017 performance, in particular the 511-bed scheme in Stratford for the University of London, which in terms of its development value is Watkin Jones' largest ever project. Investment interest in this asset class remains strong while offering good medium-term visibility. Growth in the student accommodation management business 'Fresh' also continues, with 44 schemes under management and 61 already contracted for 2020. While there appears no need for Beaufort to adjust its current forecasts for either 2017E or 2018E, the shares still appear to be undervalued on the basis of earnings multiples of 9.3x and 8.6x for the two years, a dividend yield of 5% along with exceptional FCF yield of 13.3%. At this time, Beaufort does not take some media suggestions that the decision to leave the EU could result in international students deserting the UK in coming years, but recognises this concern will need to be dispelled before its price target of 190p/share for Watkin Jones can be achieved.

Investors Chronicle: Watkin Jones, British American Tobacco, Pearson

Annual Report and Accounts
Notice of Annual General Meeting

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, announces that electronic copies of its Annual Report and Accounts for the year ended 30 September 2016 together with the Notice of Annual General Meeting and Form of Proxy are available from the Company's investor relations website at www.watkinjonesplc.com. Hard copies of the 2016 Annual Report and Accounts, Notice of Annual General Meeting and Form of Proxy will be posted to shareholders today.

The Company's Annual General Meeting will be held at 10:30 a.m. on Thursday, 16 February 2017 at the offices of DLA Piper UK LLP, 1 St. Peter's Square, Manchester, M2 3DE.

CATHEDRAL QUARTER SCHEME ACQUIRED

A new high @135p

And a little bit more, 135.75. :o)

Another new high @138.75p plus decent volume for this time of day.

A look at 140.