19 Jan 2021 09:14
Leaner, lighter strategy as investment revives Residential for rent developer and manager Watkin Jones today posted FY 2020 results, in which profits, cash and dividend beat our estimates by c. 4 - 5%. We have maintained our FY 2021E forecasts and introduced estimates for FY 2022E. Our growth assumptions are supported by further evidence in the statement of a revival in forward funding by institutional investors for both the Group's build-to-rent and student accommodation developments. A new strategy is aimed to trial the private residential sales division more to affordable housing, in line with WJ's low-risk, capital-light model.
|
Click here for full analysis
Subscribe to Progressive's research, which is freely available to every type of investor, and be kept informed about our regular programme of investor engagement.
About Progressive:
Progressive helps you make informed investment decisions. FCA authorised and regulated, and with a 15-strong team of highly experienced analysts, we provide freely available institutional grade equity research and access to company management teams across every sector of the market.
www.progressive-research.com
Broad coverage
| Analyst calibre
| |||
across 12 sectors |
|
|
| |
|
|
| ||
Business Services | Oil & Gas | 15analysts | with average | 20years |
Financials | Property | experience of | ||
Healthcare | Retail | |||
Industrials | Technology | 30+ | techMARK | |
Investment Trusts | Telecoms | industry based | Extel | |
Mining | Utilities | awards | StarMine |
For further information please contact:
Emily Ritchie
+44 (0) 20 7781 5311
eritchie@progressive-research.com