Residential-for-rent developer and manager Watkin Jones today delivered an 11% rise in PBT to £51.1m for FY2021, beating our estimate of £50.0m by 2.2%. There were similar ‘beats’ in EPS and dividend, at 16.3p and 8.2p, respectively, driven by strong operational delivery and cost control. We have maintained our earnings and dividend estimates for FY2022E, growing at over 6%. We have also introduced forecasts for FY2023E, which assume accelerated earnings growth of 31% as the strong development p ....
18 Jan 2022
Earnings beat estimates, driven by BTR hunger
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Earnings beat estimates, driven by BTR hunger
Watkin Jones Plc (WJG:LON) | 40.2 0.1 0.5% | Mkt Cap: 103.3m
- Published:
18 Jan 2022 -
Author:
Alastair Stewart -
Pages:
6
Residential-for-rent developer and manager Watkin Jones today delivered an 11% rise in PBT to £51.1m for FY2021, beating our estimate of £50.0m by 2.2%. There were similar ‘beats’ in EPS and dividend, at 16.3p and 8.2p, respectively, driven by strong operational delivery and cost control. We have maintained our earnings and dividend estimates for FY2022E, growing at over 6%. We have also introduced forecasts for FY2023E, which assume accelerated earnings growth of 31% as the strong development p ....