Watkin Jones develops large-scale residential-for-rent properties in the build-to-rent & student accommodation markets.
A resilient performance in the face of multiple sector headwinds has resulted in profits and net cash for FY24 beating our expectations. Looking forward, the residential rental group is seeing signs of recovery in the investment market and has built a significant pipeline of potential new rental properties. These should translate into revenue and profit once there is clearer visibility on rate cuts, and we believe greater clarity on timing should emerge at the half-year results.