Watkin Jones Share Discussion Threads

[kevph] 15/1/2018 09:40

Having said that, it's a cracking set of results in a market that's set to grow, so bought in on the weakness this morning. 10% down on the open....Thank you very much

[kevph] 15/1/2018 09:23

Yep, they stated the index not the increase. Touch sloppy

[allviewswelcome] 15/1/2018 09:19

It's a percentage Increase, not a multiple. 13.43 to 26.86 would be a 100% Increase, 40.29 would be a 200% Increase.....

[panic investor] 15/1/2018 09:15

I'd go away and rethink that post and multiply the first figure by 3.26 :-)

[jockthescot] 15/1/2018 09:11

Hmmm - I just did the same and am triple checking, but I get 326% too!

[irenekent] 15/1/2018 09:02

Shame there is no family successor to take over as CEO. I hope the family still keep a close eye on things. No mavericks, just a safe pair of hands and no ridiculous bonus or pension demands. Must be able to proof read accurately!

[slogsweep] 15/1/2018 08:55

Good results but careless error on over stating % increase in profits

The increase from 13.43 to 43.7 is 226% not 326% as stated. Hope they got their other sums right. I put it down to not educating the young (ie under60's) in mental arithmetic which flags up glaring errors if you do the sums in your head along with the calculator

[santangello] 15/1/2018 08:46

Lovely start to the day.......very satisfying Results, dividend hike and another tranche for me at 209/210p too.....delightful.

[2vdm] 15/1/2018 08:38

QuePasa - I agree entirely. He's giving the company time to recruit as well and will be in the background for advice if required. Some of the selling today will be the normal selling when a/cs announced.

[2vdm] 15/1/2018 08:38

QuePasa - I agree entirely. He's giving the company time to recruit as well and will be in the background for advice if required. Some of the selling today will be the normal selling when a/cs announced.

[quepassa] 15/1/2018 08:28

Excellent results.
Great increase in divi.
Fantastic to see the big emphasis and growth plans for PRS.
Encouraging remarks about limited impact of Brexit.

Surprise news re CEO but let's face it, he has been at the helm for a long time and done a great job.

CEO's do change in any company and 15 years is a long, long tenure.

The underlying business appears strong and full of great forward momentum.

I trust that the Board will find an ambitious new CEO who can build further on the business and take it rapidly forward. No reason why not. A new CEO may bring additional dimensions in terms of running what is fast becoming a significant player in its chosen field.

Personally I remain very optimistic about the business.


ALL IMO. DYOR.
QP

[adelwire2] 15/1/2018 08:08

Nice dividend with vg figures.

[its the oxman] 15/1/2018 08:04

Results and outlook read well with welcome increase in dividend. Not surprised management change might upset some but maybe an opportunity as meetings with institutions should reassure and upward trend will resume.

[martinthebrave] 15/1/2018 07:43

Looks ahead of Expectations to me - Rev £301.9m (F'cast £280.12m), PBT £43.3m (£42.67m), 14p (13.43p). Reads well at first glance with "Build to Rent sector gaining momentum"

[rivaldo] 15/1/2018 07:40

Yep, excellent results and great to see the beating of expectations. The overriding point here is the excellent visibility going forward which justifies the bullish outlook comments.

Worth noting the £41m cash pile too.

Good news that Curlew are launching a second Fund given the first one has been so successful.

Shame that the CEO is going after such a long time, but he's around for a while yet and will ensure the handover is orderly.

[skinny] 15/1/2018 07:37

Peel Hunt Buy 0.00 230.00 230.00 Reiterates

[villarich] 15/1/2018 07:36

Good results that do appear to slightly beat brokers. Think the CEO news will result in a dip in share price this morning

[jonwig] 15/1/2018 07:24

They have beaten broker estimates pretty clearly, with ...

revenue £301.9m, PBT £43.3m, eps 14.0p, div 6.6p against estimates of ...
........ 280.1 ...... 42.7 ..... 13.4 ..... 6.6

The succession RNS is a bit of a bombshell - will there be potential share sales above what we expected? Will they find an aggressive CEO with a big bonus package who takes undue risks with the business? A possibility worth being aware of.

[skinny] 15/1/2018 07:01

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation and build to rent sectors, today announces that Mark Watkin Jones has notified the Board of his intention to stand down as the Group's Chief Executive Officer once a suitable successor has been appointed, following an orderly handover period. For personal reasons, Mark is not able to undertake a full time executive role over the longer term and he and the Board believe that it is in the Group's best interests to recruit a successor.

The Board will initiate a formal search process to identify a new Chief Executive Officer and a succession timetable will be announced once this process has been concluded. The Board is keen to retain the benefit of Mark's valuable knowledge and experience and the intention is that, following the transition, the Board will look at how this might be achieved, including the option of him becoming a Non-Executive Director of Watkin Jones.

Under Mark's leadership, Watkin Jones has gone through a transformational period, a key part of which has been the establishment and development of a strong senior management team capable of supporting the Group's long-term growth aspirations. The Board will be seeking a successor to Mark who can build on this platform and maintain the Group's track record of profitable, cash generative growth.

Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "After careful consideration I have decided that it is necessary for me to step back from my position as Chief Executive Officer. The Group has reported record results today and with excellent earnings visibility, Watkin Jones is in a strong position to achieve continued success in both student accommodation and build to rent. Solid foundations are in place for my successor to work with, including an excellent management team that has supported me over the years in successfully growing the business and who will continue to drive Watkin Jones forward for the long-term benefit of our shareholders."

Grenville Turner, Non-Executive Chairman of Watkin Jones plc, said: "After 15 successful years at the helm, the Board understands Mark's desire to relinquish the CEO position and the associated demands of this role. Mark has played a pivotal part in shaping the Watkin Jones strategy and success and has built an experienced and stable leadership team who have increasingly taken on the day-to-day responsibility for the running of the business. The Board would like to thank Mark for his enormous contribution and is also delighted that he has indicated his willingness to continue to support his successor and the business going forward. The search for a successor will commence immediately and we will make a further announcement upon completion of the formal search process."

- Ends -

[martinthebrave] 12/1/2018 13:59

I don't think there is anything to be concerned about here. Great visibility of strong growth & decent looking chart IMO. Big holding for me.

[rivaldo] 12/1/2018 08:59

Looks like more good news next week:



"City planners expected to approve new 430-bedroom Belfast student block
January 11 2018

A 430-bedroom student accommodation building looks likely to be given the green light next week.

Lacuna Developments and Watkin Jones Group purchased 26-44 Little Patrick Street last year from UniCiti.

The joint venture is behind three other new student accommodation developments in the city.

The scheme, which had planning permission for 354 rooms, is being put forward for fresh approval at a Belfast City Council planning committee meeting next week.

etc"

[villarich] 12/1/2018 08:55

I wonder if WJG reported 90% growth on Monday, would it "do a BOO" and drop 8%?

[villarich] 12/1/2018 08:53

None required :-)