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Watkin Jones expects slight fall in first-half operating profit
StockMarketWire.com
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Build-to-rent and student accommodation developer Watkin Jones said it expected to report a first-half operating profit slightly down year-on-year, but in line with its expectations.
The company added that it had a 'good' half-year liquidity position, with gross cash of about £88.0 million at 31 March and net cash of around £31.0 million.
'The rapid roll-out of the Covid-19 vaccine in the UK and decline in infections is beginning to restore some normality and confidence to the UK economy and our market sectors,' chief executive Richard Simpson said.
'We've maintained momentum from the second half of last year, making further good progress in securing new forward sales, adding to our development pipeline and with our construction activities all on track.'
'The fundamentals supporting the markets for high quality build-to-rent and student accommodation assets remain strong and with the continued progress we have made in the first half of the year, gives us confidence in our future trading.'
Story provided by StockMarketWire.com
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