Watkin Jones (WJG)

Sector:

Household Goods

Index:

FTSE AIM 100

40.70p
   
  • Change Today:
    -0.70p
  • 52 Week High: 98.80
  • 52 Week Low: 32.20
  • Currency: UK Pounds
  • Shares Issued: 256.65m
  • Volume: 853,567
  • Market Cap: £104.46m

Watkin Jones forward sells Belfast build-to-rent development

By Josh White

Date: Monday 05 Jun 2023

LONDON (ShareCast) - (Sharecast News) - Watkin Jones announced the forward sale of Loft Lines, a major residential project in Belfast's Titanic Quarter, on Monday.
The AIM-traded firm said the sale was made to L&G and Clanmil Housing Association, and would consist of 627 built-to-rent (BTR) units and 81 'affordable' homes available for social rent.

It said Loft Lines would be Belfast's first BTR scheme, situated in one of Europe's largest waterfront regeneration sites.

Looking at the financials, the company said the total consideration payable to Watkin Jones throughout the project's development was estimated to be around £155m.

The scheme was scheduled for completion in the summer of 2026, and was anticipated to deliver a margin aligned with the company's current target returns.

While construction work would not significantly start until the 2024 financial year, the profit contribution to 2023 would be limited to a small profit on the land transaction, as initially expected.

"We are delighted to have secured institutional investment from both L&G and Clanmil Housing Association for this landmark scheme in Belfast's iconic Titanic Quarter," said chief executive officer Richard Simpson.

"This is further evidence of the attractive investment and operational fundamentals of both BTR as a sector and Belfast as a city and a good sign of capital markets reopening."

At 1208 BST, shares in Watkin Jones Group were up 4.98% at 71.7p.

Reporting by Josh White for Sharecast.com.

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Watkin Jones Market Data

Currency UK Pounds
Share Price 40.70p
Change Today -0.70p
% Change -1.69 %
52 Week High 98.80
52 Week Low 32.20
Volume 853,567
Shares Issued 256.65m
Market Cap £104.46m

Watkin Jones Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
54.10% above the market average54.10% above the market average54.10% above the market average54.10% above the market average54.10% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average
Price Trend
56% below the market average56% below the market average56% below the market average56% below the market average56% below the market average
76% below the sector average76% below the sector average76% below the sector average76% below the sector average76% below the sector average
Income
10.72% above the market average10.72% above the market average10.72% above the market average10.72% above the market average10.72% above the market average
36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average
Growth
77.46% below the market average77.46% below the market average77.46% below the market average77.46% below the market average77.46% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Watkin Jones Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Jun-23 02-Feb-23
Paid 30-Jun-23 02-Mar-23
Amount 1.40p 4.50p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 108,243 @ 40.70p
16:35 459 @ 40.70p
16:35 1,767 @ 40.70p
16:35 82 @ 40.70p
16:35 10,767 @ 40.70p

Watkin Jones Key Personnel

Chair Alan Giddins
CFO Sarah Sergeant

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