Watkin Jones Share Discussion Threads

[blackhorse23] 11/10/2023 08:42

180p share now 35p , bargain . I don't think we ever see again below 40p

[eigthwonder] 11/10/2023 08:34

Update could have been worse - so may bounce. The key for further out isn’t asset value or revenue but whether the balance sheet can handle the cash demands of delivering this year’s projects.

[liam1om] 11/10/2023 08:33

Or even better, ignore it completely as its meaningless.

[skinny] 11/10/2023 08:32

Treat advfn's buy/sell algo with a large pinch of salt.

[dov] 11/10/2023 08:26

I think in all fairness most of those sells are quite possibly buys I got a quote for a small buy at the open and it was at the same price as what the supposed sells were at

[liam1om] 11/10/2023 08:23

Started buying in here this morning after those results. That is one hell of a beaten up chart and I'm seeing recovery shoots appear now.

Good luck all.

[blackhorse23] 11/10/2023 08:19

After 9 it will go up towards 40p , 100k buy went through

[tlobs2] 11/10/2023 08:16

30p by 9:00am is my expectation at this rate.

[hybrasil] 11/10/2023 08:16

Are you forgetting about liabilities ?

[blackhorse23] 11/10/2023 08:14

cash 72m & revenue over 400m but mcap only 80m ,asset value over 500m

[trader465] 11/10/2023 08:09

200k sold, just 17 shares bought so far

[tlobs2] 11/10/2023 08:05

Not many buy trades going through. What's holding you back Blackhorse23?

[blackhorse23] 11/10/2023 08:03

Back to 50p

[tlobs2] 11/10/2023 07:59

Get your hard hats on.... 22p-25p should be the bottom

[zangdook] 11/10/2023 07:59

BH's ramping meets expectations

[blackhorse23] 11/10/2023 07:56

Revenue exceeded over 400 million

[blackhorse23] 11/10/2023 07:56

Revenue ahead of expectations

[johndoe23] 11/10/2023 07:43

It will probably get hammered

[blackhorse23] 11/10/2023 07:35

Excellent trading update

[dov] 11/10/2023 07:20

Surely in the price by now ?Worse than was expected will find out at open

[skinny] 11/10/2023 07:14

FY23 Trading Update

Watkin Jones provides the following trading update for the year ended 30 September 2023 (the 'year' or 'FY23'), ahead of the publication of the Group's final results in January 2024.

FY23 trading

The Group was successful in achieving its operational objectives for the second half of the year with practical completion on four schemes in the final quarter and the sale of its three non-core PRS operational assets.

In our 19 July 2023 trading update (the 'July Trading Update') we indicated that we did not expect to materially improve on the underlying PBIT recorded in H1 of GBP2 million. Since the trading update the Group has incurred certain additional costs, including acceleration costs to ensure successful completion on two schemes. These costs are not expected to carry forward into the current year. We now expect FY23 revenue to exceed GBP400 million and underlying PBIT to be at approximately break-even.

Cash performance was strong in the final part of the year, with gross and net cash of c. GBP72 million and c. GBP43 million, respectively, at 30 September 2023. This increased cash balance includes the previously announced inflow of c. GBP9 million from the sale of the three non-core PRS operational assets.

In the period since the July Trading Update, we have had significant focus on operational and cost efficiencies within the business. This has included reviewing the overhead cost base and implementing a number of cost actions which will generate annualised savings of over GBP2 million in FY24.

The Group's position on the exceptional provision for remedial works for legacy properties remains unchanged from the July Trading Update.

FY24 Outlook

Whilst the current challenging market conditions are set to continue into the start of FY24, the Group's level of secured revenue for FY24 is c. GBP330 million. The Group is making progress with its assets for forward sale in the market and remains active, but highly selective, in the land market. There is no change to the FY24 guidance provided in the July Trading Update.

- Ends -

[tlobs2] 11/10/2023 07:11

Oh dear, that doesn't make for good reading does it Blackhorse23 ;-)

[disc0dave46] 10/10/2023 17:44

Wow, how long did it take you to go through all the posts to get to what I said 6 months ago!.According to you NAV is 25p isn't it!!!!!Sad life :)

[christw1234] 10/10/2023 15:35

I think Co-Living could be WJG's saviour if they can build a portfolio quickly and retain the Freeholds and rental income under another brand ?

[hybrasil] 10/10/2023 15:09

Disco
Look at your post 2864

Did you back up the lorry