Watkin Jones Share Discussion Threads

[alter ego] 27/4/2021 15:31

Mnuttall69, is the IC investor forum on the IC magazine web site? I cannot find the article - do you have a link?

[mnuttall69] 27/4/2021 12:56

Very strong update from Simon Thompson in the last hour on IC Investor Forum. Remains significantly undervalued and strong momentum to follow.

[skinny] 16/4/2021 08:38

Pretty strong early volume.


free stock charts from uk.advfn.com

[sphere25] 16/4/2021 08:35

Unusual early activity in WJG with 1.8m traded so far

387k prints galore hitting the book at the moment.

Price is consolidating near the recent highs atm.

All imo
DYOR

[2vdm] 14/4/2021 09:22

Good analysis on WJG with forward estimates by Progressive Equity Research today. Free to log in

[skinny] 14/4/2021 07:03

.




H1-2021 Trading Update

'Maintaining momentum as the economy reopens'

Watkin Jones plc (AIM:WJG), the UK's leading developer and manager of residential for rent, with a focus on the build to rent ('BtR') and purpose built student accommodation ('PBSA') sectors, provides the following trading update for the half year ended 31 March 2021 (the 'period' or 'H1-2021').

Richard Simpson, Chief Executive Officer of Watkin Jones, said:

"The rapid roll-out of the COVID-19 vaccine in the UK and decline in infections is beginning to restore some normality and confidence to the UK economy and our market sectors. We've maintained momentum from the second half of last year, making further good progress in securing new forward sales, adding to our development pipeline and with our construction activities all on track.

"We anticipate our profit for the first half of the year to be in line with our expectations and slightly below last year, which was before the onset of the disruption caused by the pandemic.

"The fundamentals supporting the markets for high quality build to rent and student accommodation assets remain strong and with the continued progress we have made in the first half of the year, gives us confidence in our future trading."

H1-2021 performance

-- Adjusted EBIT anticipated to be in line with our expectations and slightly below H1-2020, which was before the COVID-19 disruption to our operations and the markets in which we operate.

-- Good half year liquidity position, with gross cash of c.GBP88.0 million (H1-2020: GBP72.4 million) and net cash of c.GBP31.0 million (H1-2020: GBP37.5 million), after deducting site specific loans.

-- Construction activities on track across all BtR and PBSA developments.
-- Revenues from Fresh property management business resilient, despite short term disruption across the higher education sector; income supported by new mandates won since the start of the year for 2,619 PBSA beds.

-- Sales levels within the Homes business robust.
-- Cladding remedial works relating to fire safety progressing in line with previous guidance; increased clarity in future direction of government policy supportive of our position.

-- Affordable housing pilot progressing to plan.
Continued momentum in securing forward sales

-- Contracts exchanged subsequent to the period end for the sale of our 462 bed PBSA development in Leicester to Deutsche Finance International ('DFI') for a value of GBP35.6 million, payable on completion of the asset. The development is scheduled for completion in FY-2021 ahead of the 2021/22 academic year and is to be managed by Fresh. This transaction represents DFI's second acquisition of PBSA in the UK and their first with Watkin Jones.

-- Legals progressing on the forward sale of our BtR developments in Leicester, Hove and Lewisham (London) and terms agreed for the forward sale of a 295 bed PBSA scheme in Edinburgh, subject to planning.

-- Total forward sales of four PBSA developments (1,371 beds) since the start of the year.
-- Legals progressing for the forward sale of 159 homes on our affordable housing pilot site in Crewe.

Development pipeline further enhanced since our last update in January

-- New PBSA site for 350 beds secured in Swansea.
-- Secured development pipeline currently comprises approximately 4,500 BtR apartments and 8,250 PBSA beds (H1-2020: 2,660 BtR apartments and 7,200 PBSA beds), with a future revenue value of c.GBP1.4 billion, excluding the revenue delivered in the period (H1-2020: GBP1.0 billion).

-- Legal negotiations progressing on attractive new sites to be acquired across all residential for rent segments.

Board succession

As part of our orderly Board succession planning, several changes are being planned for the future. Having led the Board successfully since the Group's IPO in 2016, Grenville Turner, Non-Executive Chairman, is intending to retire at the end of this year and a search for his successor has commenced. In addition, Phil Byrom, Chief Financial Officer, is planning to retire next year, after nearly 20 years' service in both the private family company and through its transition to being publicly listed. The recruitment process for his successor has also been started.

Notice of Interim Results

The Group's Interim Results will be announced on Tuesday, 18 May 2021. There will be a conference call for analysts at 09.30am on the day of the announcement, hosted by CEO Richard Simpson and CFO Phil Byrom. Please contact Buchanan at [e-mail] if you would like to receive the dial in details.

- Ends -

[janekane] 13/4/2021 18:36

Some one on another site was posting the problems for our company over charging students full rent during lockdown
We don’t charge rent we build and sell the accommodations to companies that do

[skinny] 04/3/2021 15:28

50 week high @214.50p

[farmergeorge] 03/3/2021 18:45

...and dividends!

[investor0109] 03/3/2021 18:01

Sphere25- quite agree, WJG looks to be making good ground and for good reason. High quality business managed well- believe reasonable value in region of 230-260p, with excellent potential.

[sphere25] 03/3/2021 15:59

The teasing of this blue sky breakout and chart gap higher is too much. Like a fly to the web, I have been lured in to buying some more.

Doesn't seem to be many available to buy at the moment so a breakout on the way when the market realises sellers have possibly dried up at these levels or are those PlonkerVille sellers having a snoozefest this afternoon?

All imo
DYOR

Closing auction update:

Price has broken out to close at 208p. Highest close since the plummet last March.

[sphere25] 03/3/2021 14:56

This share sure knows how to tease.

Price currently 206.5p, being bang on key resistance levels at the moment. It keeps threatening that breakout. Still some sellers preventing the breakout around the 207p level but 185k just mopped up at 206p.

Keep the mop out at 205p and 206p and surely the bulls will take control of key price levels to help push the price higher.

Continued stalemate at the moment.

All imo
DYOR

[sphere25] 26/2/2021 10:23

Hello 2theduke.

Hello to the Duke. You are the Duke :-)

Yes, it's hard to read this one because of the way the orders come onto the book. The book doesn't often represent the whole picture here. The book can look strong one minute and then the hidden sell algos pop up, which in turn makes the buy algos on the bid run for cover and it looks completely different.

That said, I have nibbled a few this morning too. Just noticed a few bigger buy orders on the book: 25k (20263 remainder at present) at 200p and 21580 204p - larger orders than normal for WJG, which are staying static with the shuffles of the sell algos on the offer. Clearly more capital is being allocated to the re-open trades this week with so many positive moves.

Whether that is a precursor to a breakout in WJG remains to be seen. Volume is light on a quiet Friday morning (though I'm sure folk are watching some of the really sharp moves in the US ten year and the QQQ chart looking rather precarious - the selling can feed through into UK shares if they really go PlungeVille and unwind some of the excesses) and we're about to test those key levels at 207p.

IF we can clear these sell orders at 207-208p, breakout could be on here. If not, it looks like more farting about in a tight range.

All imo
DYOR

[2theduke] 25/2/2021 17:04

Hey sphere :-) I’ve taken a position but it may be early. We will know tomorrow.
There was someone buying chunks for a while now and then some large seller. Today the seller seems to have finished... to my untrained eyes.
Wider macro trends are on wjg side as well, so I’m ok holding as I don’t tend to trade vs invest.
Good luck :-) imo dyor

[sphere25] 25/2/2021 14:26

Have I missed the breakout here?

It's having a go with the price currently 206.5p. Looks like a larger seller at 208p so a breach above that intraday could make this move interesting. Prone to lumpy moves WJG and often sell orders sit silently in the background waiting particular offer price points to be hit.

Let's see if it can confirm the breakout.

There is no ex-dividend to get in the way this time! :-)

Still, holders gobbled that up and made it back and more atm,

All imo
DYOR

Closing auction update. Price has closed 204.5p. Squint your eyes and see if that's a breakout. Needs momentum tomorrow and it could confirm the breakout but can lumpy ole WJG do it? Don't find this one the most straightforward to trade but it's getting interesting.

[bg97] 22/2/2021 17:26

Happy days! Full steam ahead for Watkin Jones. Roll on pre covid price of £3 in the medium term

[alphabeta4] 22/2/2021 16:48

Anyone else pick up on Bojo saving 'further education can also return on 8th March'?

[alphabeta4] 18/2/2021 10:53

Note from The Times front page today university applications are up 11% on last year, possible good sign?

[goodpick] 10/2/2021 19:43

Or a big personal investor selling before the March 3rd budget.

[janekane] 10/2/2021 07:20

It was a definite buy

[zangdook] 09/2/2021 11:47

a million traded (sold?) at 10.03

[2vdm] 05/2/2021 12:28

The Scottish project also looks excellent although I note that there is no mention of WJG having sold it on to an investor, which is its normal "capital light" business model. Still the property appears to be in a great location in Edinburgh.

Alex Pease, chief investment officer of Watkin Jones, said: “This site is another exciting acquisition for Watkin Jones in Edinburgh, where the success of the city means demand for high quality, purpose-built student accommodation outstrips supply. Westfield Road is a popular area, with excellent cycling, bus and tram links. Additional student accommodation will provide a real boost to the local economy. Construction work has already started, and we expect to welcome the first students in autumn 2022.

“Our significant investment in Edinburgh in recent months demonstrates our confidence in the city and further enhances our pipeline of student and build-to-rent sites throughout the UK, further strengthening our position as the UK’s leading provider of residential for rent homes.”

[2vdm] 05/2/2021 12:22

00Looks like a great partnership deal if Belfast City Council agree it. 800 apartments. Hopefully Fresh can get involved as well if it goes through.

[cordwainer] 05/2/2021 01:09

More BTR:
www.scottishconstructionnow.com/article/edinburgh-rental-development-sold-to-watkin-jones

Belfast Titanic Quarter residential development:
www.business-live.co.uk/commercial-property/developer-watkin-jones-partners-titanic-19742091