7th Apr 2016 06:59
LONDON (Alliance News) - Student accommodation developer Watkin Jones PLC on Thursday said trading in the first half of its financial year was in line with its expectations in its first update since listing in London.
Watkin Jones floated on AIM at the end of March, raising GBP131.3 million and starting publicly listed life with a market capitalisation of GBP255.0 million.
The company said it secured the forward sales of four student accommodation developments in March, comprising sites in Glasgow, Birmingham, Bath and Sheffield, for a total of GBP82.0 million.
The group has another three developments totalling more than 900 beds under offer and a number of other planning applications submitted in respect of its pipeline.
Also in March, the company's asset management unit, Fresh Student Living, secured a new 536 bed scheme in Glasgow, bringing the total number of beds under management to 12,663 for the start of the 2016 academic year.
Watkin Jones said it remains confident on its outlook for the rest of the financial year to the end of September. It will publish interim results on June 9.
By Sam Unsted; [email protected]; @SamUAtAlliance
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