5th Nov 2019 10:14
(Alliance News) - Student accommodation firm Watkin Jones PLC on Tuesday said it expects full-year results to be in line with expectations, after reporting strong trading in the fourth quarter.
The company, which closed its financial year on September 30, said all its operating segments traded well and the six developments in its Purpose Built Student Accommodation division were all completed on time.
Watkin Jones said: "The group's trading remained strong through the final quarter of the year. Consequently, the board expects to report revenues and earnings for financial year 2019 in line with its expectations, together with a good cash performance in the period."
Watkin Jones has forward sold 2,609 beds in the Purpose Built Student Accommodation division for financial 2020. A further 1,928 beds have been sold for financial 2021.
In the Build to Rent segment, 159 apartments have been forward sold for the current year and 782 for financial 2021.
The company added: "The group has a number of other PBSA and BtR opportunities in advanced stages of negotiation, which if satisfactorily concluded would add a further circa 2,025 student beds and 1,150 BtR apartments to the pipeline for delivery over the period financial year 2021 to financial year 2023."
Watkin Jones shares were 1.3% higher at 238.53 pence each in London on Tuesday morning.
By Eric Cunha; [email protected]
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