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)

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.

Building nicely! :o)

Forward Sale in Bournemouth

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 announce that further to the positive update on developments announced on 22 December 2016 and its 2016 full year results announcement on 18 January 2017, the Group has completed the forward sale of the student accommodation element of its Christchurch Road development in Bournemouth.

The sale has been made to an institutional investor for an undisclosed fee, with the development consisting of 454 beds of student accommodation (437 ensuite clusters and 17 self-contained studios). The development is due for completion in the summer of 2017 ahead of the academic year. Following this transaction, all of the Group's student accommodation developments due for delivery before the end of the current financial year have been forward sold, while 1,840 of the 3,485 beds due for delivery in 2018 have been pre-sold and a further 1,530 have planning permission.

Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "We are delighted to announce that we have successfully completed the sale of the student accommodation development at Christchurch Road in Bournemouth. Having now forward sold all of our projects which are due for delivery in the current financial year, the Group has demonstrated its strong relationships with institutional investors and its ability to provide good visibility on near term returns for its shareholders."

Toying with 140 again.

New high 145.00p

some clarification where you have posted elsewhere would no doubt be appreciated :-)

Making new highs @155p.

156p.

162p

released after market close - Placing of Shares in Watkin Jones plc

Placing of Shares in Watkin Jones plc ("Watkin Jones" or the "Company")

The G&J Watkin Jones 1992 Settlement Trust and Philip Byrom (together the "Sellers"), have agreed to sell up to 50,250,000 ordinary shares of one penny each in the Company (the "Ordinary Shares") (the "Placing Shares") via an accelerated bookbuild through Peel Hunt LLP ("Peel Hunt"). The Placing Shares represent approximately 19.7% of the Company's issued share capital.

Peel Hunt is acting as sole Bookrunner in respect of the Placing, which will be launched immediately following this announcement and is open to certain existing and new investors. The final price at which the Placing Shares are to be sold will be agreed by the Bookrunner and the Sellers at the close of the bookbuild process, and the results of the Placing will be announced as soon as practicable thereafter. The timings for the close of the bookbuild process, pricing and allocations are at the absolute discretion of Peel Hunt.

The proceeds of the Placing are payable in cash and will be settled on a T+2 basis, and closing of the Placing is expected to occur on or about 24 March 2017. Of the Placing Shares, up to 49,250,000 are to be sold by the G&J Watkin Jones 1992 Settlement Trust and up to 1,000,000 are to be sold by Philip Byrom. The Company will not receive any proceeds from the Placing.

The Ordinary Shares held by the Sellers which are not to be sold in the Placing by the Sellers will be subject to a 180-day lock-up which will be subject to customary exceptions and which will otherwise only be waived with the consent of the Bookrunner (the "Sellers' Lock-Up"). In addition, the Ordinary Shares held by Mark Watkin Jones and by the Watkin Jones Will Trust will also be subject to a 180-day lock-up on the same terms as that of the Sellers' Lock-Up.

Market Abuse Regulation

The information contained within this announcement is deemed by the Sellers to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.

Enquiries

Peel Hunt LLP (sole Bookrunner)
Alastair Rae
Mike Bell
Sohail Akbar
Matthew Brooke-Hitching
+ 44 (0)20 7418 8914


more.....

Result of Placing of Shares in Watkin Jones plc ("Watkin Jones" or the "Company")

Further to the announcement released yesterday, the G&J Watkin Jones 1992 Settlement Trust and Philip Byrom (together the "Sellers") have sold a total of 50,250,000 ordinary shares of one penny each in the Company (the "Ordinary Shares") (the "Placing Shares") at a price of 140 pence per share (the "Placing"). The Placing Shares represent approximately 19.7% of the Company's entire issued share capital.

Peel Hunt LLP ("Peel Hunt") acted as sole Bookrunner in connection with the Placing.

The Ordinary Shares held by the Sellers which were not sold in the Placing by the Sellers are subject to a 180-day lock-up which is subject to customary exceptions and which will otherwise only be waived with the consent of the Bookrunner (the "Sellers' Lock-Up"). In addition, the Ordinary Shares held by Mark Watkin Jones and by the Watkin Jones Will Trust are also subject to a 180-day lock-up on the same terms as that of the Sellers' Lock-Up.

Do we think there was a little leak going on here then .

Well that's upset the volume part of the chart!