Watkin Jones Share Discussion Threads

[quepassa] 05/4/2018 08:48

Re 1404.

He does seem a young man to quit as CEO of such a successful family business.

likely at his age to get bored very soon in my view if he withdraws from the cut and thrust of business life.

What's better? To be remembered as "The Boy from Bangor" or the "Billionaire from Bangor". - Now that would be something worth holding out for.

Come on, where are those cojones?

In my opinion, he's crazy to quit as CEO of this golden goose of a company.


Strong Trading Update.


ALL IMO. DYOR.
QP

[edmonda] 05/4/2018 08:35

H1 update reads nicely - full ED update research now published reaffirming forecasts and fair valuation at 225p / share.

Freely available here :

[rivaldo] 05/4/2018 08:29

Peel Hunt reiterate their Buy and 230p target:

[11_percent] 05/4/2018 08:27

They won't be able to hold it down indefinitely.................but they can scam it long enough to bankrupt us....

[jonwig] 05/4/2018 08:22

They seem to be in no hurry to test the market in PRS by selling on properties, which they intend doing when a substantial profit can be made. Let's hope they are reading that market right.

@ irenekent - I suppose they would point out that it's a "trading" update, but it's true replacing CEOs is often very quick: the seat is still warm!

[2vdm] 05/4/2018 07:57

They won't be able to hold it down indefinitely as it's a money making, cash positive dividend paying machine with clear objectives and an experienced BOD. As long as it remains so,and there's certainly no reason to see why it shouldn't, the pressure will be on share price to head north. Just my view but as a LTH,I have been adding at these levels.

[irenekent] 05/4/2018 07:56

No word about progress in finding new CEO. Perhaps Mark doesn't want to go after all?

[11_percent] 05/4/2018 07:46

This is got to rise on the open.

Will be interesting to see if the scammers then take it down. That would be a bad sign as it would mean they will take it down further in the future.

[rivaldo] 05/4/2018 07:34

Looks like an excellent trading statement today on first reading, with trading nicely in line and a very confident outlook:

"Outlook

The Group's progress in implementing its operational and strategic objectives is encouraging and the Board remains confident in the outlook for the full year and beyond."

I note in particular that FPG is the "preferred property manager" for the recent launch of CST2. CST1 was very successful and is expanding to 25 assets comprising almost 7,400 beds, with CST2 expected to do the same. So this should be very profitable for WJG:



The CEO's comments couldn't be much more positive:

"Mark Watkin Jones, Chief Executive Officer of Watkin Jones plc, said: "I am delighted with the Group's performance in the period. The outlook for the UK purpose built student accommodation market is positive and demand for our high-quality product remains strong. FPG continues to be successful in securing new contracts and, from the start of the 2018/19 academic year, is contracted to manage over 14,000 beds.

"We continue to make solid progress in the build to rent sector, having successfully acquired five build to rent development sites. We remain in positive negotiations on several other opportunities and will update the market as these opportunities progress.

"As we continue to consolidate our position as a market leader in the development and construction of student accommodation and make good progress with our build to rent developments, the business continues to demonstrate sustainable growth. Given the encouraging start to the financial year, we believe our business model will continue to deliver strong returns to shareholders."

[santangello] 04/4/2018 13:31

Thank chaps, beat me to it.Not liquid enough to buy outright, so have opened 3 T+20 trades.Smart buyers arriving now, similar positive thoughts ???

[monions01] 04/4/2018 12:10

They mentioned the TU date of 5th April in the Student Accommodation Update RNS on 21st March.

[hyperboreus] 04/4/2018 12:08

'The Group with be issuing its Pre-Close Trading Update for the half year ended 31 March 2018 on Thursday, 5 April 2018.'

[jezwatson] 04/4/2018 12:03

Hi Santangello... You refer to "Thursdays Trading Update". I was unaware that a trading update was planned for Thursday. May I ask where this information came from?

[santangello] 03/4/2018 15:04

Let's see if Thursdays Trading Update instils any confidence into investors/share price.

Personally, I have held for a long time, so income is my goal here.

[adelwire2] 03/4/2018 11:53

I can't believe how this excellent share is down again.

[11_percent] 30/3/2018 21:31

That's the point.......the story has not changed.

All the trades are "AT" trades, so my guess is someone has set up a bot, and is using algos to trade it down.

We are now on 4 lower lows......which is a bit strange, it is usually 3.

They can take as low as they want, but at some point, the share price just looks rediculus.....which is about now.

[swiss paul] 30/3/2018 20:51

Seems we on a slow downward trend - has the good luck story ran its course?
I hold

[minerve] 28/3/2018 16:13

I am not sure this is the article read, but there you have it:

[minerve] 28/3/2018 16:11

Student numbers are expected to grow over the next decade and university capacity needs to expand to cope with it. Lots of issues at play but there is a bubble in the demographic with 18 year olds; probably a harmonic of the baby boom.

If I find the recent article I will post the link.

[minerve] 28/3/2018 16:08

Just as a side, you can apply for planning permission on land you don't own.

[cordwainer] 27/3/2018 19:22

I noted the CEO risk, it won't be quite the same without a 6th - 7th generation family member. Other musings include: student numbers peaking? ; can pipeline of reliable projects be maintained / grown? . But I don't see enough concern to make it this cheap, decent dividend too.

Does anyone else see this company as developing into a cross between 'Unite' (student accom) and 'Telford Homes' (build-to-rent for private-rented sector) except a tad more diversified ?

[jonwig] 27/3/2018 17:58

@ cordwainer - it's described in the prospectus with a brief summary on p15.

However, to take an example, for student digs:

All the developments due for delivery ahead of the 2018/19 academic year have been forward sold. Five of the seven schemes scheduled to be delivered ahead of the 2019/20 academic year have been forward sold, with the remainder now having received planning consent. Five developments, totalling 2,167 beds, scheduled to be delivered ahead of the 2020/21 academic year, have also now received planning consent. [21/03/18]

As far as I know they have never reached completion without forward sale. If you look at their balance sheet the largest single item is Inventories and WiP. So they do commit finances, but not in a speculative way (like housebuilders). I'd guess they don't commit to development unless they've either firm commitment or a strong chance of securing it.

All the above doesn't apply to PRS projects.

And - maybe a good entry point yesterday. I guess the market wants to know who will be the new CEO.

[cordwainer] 27/3/2018 17:13

Could someone please clarify:
does WJG get 'commissioned' to plan and develop on other people's land or do they take on the risk themselves by buying the land first ?

admission: I bought yesterday at 181.36p

[santangello] 27/3/2018 14:41

....cheers Rivaldo.Buyers retuning here ?