Q3 Update

Watkin Jones plc

30 July 2026

 

30 July 2026

Watkin Jones plc

('Watkin Jones' or the 'Group')

Continued operational delivery in Q3 alongside c. £60m of new contracts signed as Watkin Jones executes against diversified growth strategy

Watkin Jones plc, the UK's leading developer and manager of residential for rent, provides the following update on trading for the three months to 30 June 2026 ("Q3").

Whilst the geopolitical and economic backdrop continues to impact both confidence and liquidity in our key markets, the Group remains focused on execution and the factors within our control.  This includes successfully delivering our in-build projects in line with stated margin guidance and carefully managing our costs and cash, in particular with further earlier procurement of selected sub-contract packages and materials to mitigate inflationary pressures.

Consistent with the Group's focus on diversifying its revenue streams across development and asset management, Watkin Jones has signed six new contracts with a combined value of approximately £60 million in the second half to date.  These include five new contracts secured by our Refresh division, the Group's refurbishment and asset improvement platform, and a partnership with Marick Real Estate to develop a Staycity aparthotel scheme in Oxford's city centre.

The Refresh schemes relate to existing Purpose Built Student Accommodation ("PBSA") assets where the Group will deliver significant remediation, fire safety, refurbishment and asset improvement works further highlighting the growing demand from investors seeking to modernise, enhance, and future-proof existing residential assets whilst enhancing sustainability with lowered operating costs.

The Group is actively engaged with investors on a small number of transactions which have the potential to conclude in the final quarter and completion of which are required to deliver adjusted operating profit progression in the second half over the first half. The Board is mindful that the effects of ongoing economic and political uncertainty on real estate funding liquidity represent ongoing risk to the timing and completion of these transactions.

Alex Pease, Chief Executive Officer of Watkin Jones, commented:

"While market conditions remain challenging and continue to impact the pace of recovery and short-term real estate transaction liquidity, the long-term fundamentals of our end markets remain attractive. The signing of six new contracts, with a combined value of c. £60 million at margins in line with guidance, signals further progress of our strategy to diversify the business, allowing us to strengthen our secured pipeline and enhance future revenue predictability".

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For further information:

Watkin Jones plc
Alex Pease, Chief Executive Officer	Tel: [phone]
Simon Jones, Chief Financial Officer	www.watkinjonesplc.com
Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)	Tel: [phone]
Mike Bell / Ed Allsopp	www.peelhunt.com
Singer Capital Markets (Joint Corporate Broker)	Tel: [phone]
Sara Hale / Graham Hertrich / James Todd	www.singercm.com

Media enquiries:

MHP Group (Watkin Jones)                                                                                                      Reg Hoare / Rachel Farrington / Catherine Chapman

Tel: [phone] [e-mail]

Notes to Editors

Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high-quality developments.  Since 1999, Watkin Jones has delivered over 51,000 student beds across 150 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector, where it has delivered 3,400 apartments across 19 schemes to date.  In addition, Fresh, the Group's specialist accommodation management business, manages significantly more than 21,000 student beds and build to rent apartments on behalf of its institutional clients.  Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.

The Group's competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L.  For additional information please visit www.watkinjonesplc.com.

 

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