Watkin Jones Share Discussion Threads

[spellbrook] 18/1/2017 09:55

Watkin Jones Plc 23% profit growth in FY16 and a positive outlook in FY17 and FY18
Posted by: giles.arbor 18th January 2017


hxxps://www.directorstalkinterviews.com/watkin-jones-plc-23-profit-growth-fy16-positive-outlook-fy17-fy18/412721329

[spellbrook] 18/1/2017 09:54

Watkin Jones targets PRS

as profits surge



hxxp://www.constructionenquirer.com/2017/01/18/watkin-jones-targets-prs-as-profits-surge/

[2vdm] 18/1/2017 09:54

Finally started to tick up. If we get press coverage, then this will re-rate. Will watch share price after dividend date and look for a top up. Very pleased with this so far and glad I got in early-ish

[effortless cool] 18/1/2017 09:50

Not as slow as rivaldo, at least.

[effortless cool] 18/1/2017 09:50

Note to self ... better be quicker next time.

[rivaldo] 18/1/2017 09:50

Alan, it's in the Chairman's Statement:

"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"

EDIT : beaten to it :o))

EDIT 2 : cheers for that EC!

[shauney2] 18/1/2017 09:49

Aww second again.Anyway a nice little breakout.

[effortless cool] 18/1/2017 09:49

Better get to Specsavers ...

"The dividend will be paid on 28 February 2017 to shareholders on the register at close of business on 27 January 2017".

[shauney2] 18/1/2017 09:48

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 GBP1 per ordinary share. This is in line with our 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.

[gostevie63] 18/1/2017 09:48

xd 26/1/17

Pay 28/2/17

[alan@bj] 18/1/2017 09:46

Perhaps I need a new pair of specs. I can't find the date the dividend is payable in the announcement. Is it me?

[jonwig] 18/1/2017 09:39

Shanklin - gross margin of 60%. Thanks for pointing that out.

I guess with service industries like that, fixed costs will be relatively small (as opposed to manufacturing, retail). Managing agents for BtL have been accused of making excessive profits, so maybe 60% is not unusual. Of course the larger student letting companies (UTG, ESP, DIGS) have their own in-house, and also offer external services.

[spellbrook] 18/1/2017 09:38

DIVIDEND to come also.......

[skinny] 18/1/2017 08:46

Peel Hunt Buy 121.88 155.00 155.00 Reiterates

[shanklin] 18/1/2017 08:25

Given the high visibility here, a P/E of 12 does not seem unreasonable.

On a separate tack, I was a little surprised WJG included the final sentence of the following paragraph:

"For the period post‑acquisition, Fresh contributed revenue of £2.8 million and gross profit of £1.7 million. On a like‑for‑;like basis, Fresh's revenues for the year to 30 September 2016 amounted to £5.1 million, compared to £2.6 million for FY 2015. The gross margin achieved is approximately 60%."

Clearly management services both for student living and, going forward, PRS, are an important and fast growing adjunct to the core business, and are presumably forecast to be key to future profitability growth.

[rivaldo] 18/1/2017 08:09

Zeus this morning suggest a 160p share price based on a P/E of 12, given 13.7p EPS forecast this year.

[2vdm] 18/1/2017 07:38

Great set of results and well done to the BOD. Still cash positive after absorbing exceptional costs of IPO £26m. Business model working with 9 out of 10 already agreed in 2017 and the tenth in legal negotiations. Strong forward pipeline. In the background an experienced and valued team recognised by the BOD.

[janekane] 18/1/2017 07:36

Larva
Can you prove your comments
If not go away and leave this BB to investors We don't need trolls

[dibbs] 18/1/2017 07:35

Looks pleasing reading to me after a quick scan. A good solid long termer for me unless company specific things alter.

Dibbs

[jonwig] 18/1/2017 07:30

larva - is that still bugging you (or was it somebody else)? It's already been explained that it's at worst irrelevant, at best useful. Time to pupate on that one.

[spellbrook] 18/1/2017 07:24

PRS...will be further diversification and will compliment the existing business, especially with its contacts and again can be forwarded sold if required...imo

A key event in the financial year was the progression of our first PRS scheme, a 322--apartment development in Leeds, which we have forward sold to a leading institutional investor. Construction is proceeding to plan, with completion scheduled in the first half of FY 2017. We also launched Five Nine Living to manage PRS schemes, drawing on Fresh's expertise

[larva] 18/1/2017 07:19

Have they sold the private jets they have in the books yet

[rivaldo] 18/1/2017 07:18

Excellent results - 12.4p EPS, a 4p dividend, and a £32.2m cash pile.

These are spot on Zeus Capital's forecasts and ahead of Peel Hunt's, who went for 12.1p EPS.

For the current year Zeus go for 13.7p EPS and a 6.3p dividend.

Given the cash pile, the ex-cash P/E is well into single figures, certainly justifying Peel Hunt's current 155p target, and especially so given the very confident outlook going forward.