Residential-for-rent developer and manager Watkin Jones confirms in today's trading statement for the six months to 31 March that it remains confident in its performance for FY2022E, stating that there will be more of a second-half weighting due to weighting of project deliveries. We maintain our estimates for both FY2022E and FY2023E, and also highlight growing investor demand for the group's student and build-to-rent developments.