Earnings release
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RNS Number : 5066SWatkin Jones plc28 August 2026 28 August 2026 Watkin Jones plc ('Watkin Jones' or the 'Group') FY26 Trading Update Watkin Jones plc, the UK's leading developer and manager of residential for rent, provides the following update on trading for the year ended 30 September 2026 (the 'year' or 'FY26'). The Group has continued to execute effectively on its broad commercial objectives with a particular focus on effective cash and cost management and operational delivery despite ongoing geopolitical uncertainty and economic headwinds impacting transactional liquidity. In recent weeks, the Group has achieved successful practical completion on two major schemes, in Belfast and Cardiff, comprising 1,345 units of build to rent accommodation and with aggregate margins in line with guidance. We have made further progress on our building safety rectification obligations with four projects currently on site of which two buildings are expected to be completed in FY26. The Group's provision will continue to be kept under review, reflecting ongoing building investigations and discussions with owners and supply chain. As set out in the Q3 trading update, the Group has been engaged with investors on a small number of transactions with the potential to conclude in Q4. Whilst investor engagement in each of these schemes remains active, the Board has concluded that it is now unlikely that all of these transactions will be finalised by the year end. As a result, the Group is expected to deliver adjusted operating profit for the full year at a similar level to H1. The Group remains focused on active cash management with year-end net cash anticipated to be ahead of the level reported at the half year end of £61m. The Group continues to make progress in evolving its business model with the aim of further diversifying its revenue streams. With a robust balance sheet, the Group is well positioned to capitalise on the attractive long-term fundamentals of our target sectors as market conditions improve. - Ends - For further information: Watkin Jones plc Alex Pease, Chief Executive Officer Tel: +44 (0) 20 3617 4453 Simon Jones, Chief Financial Officer www.watkinjonesplc.com Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) Tel: +44 (0) 20 7418 8900 Mike Bell / Ed Allsopp www.peelhunt.com Singer Capital Markets (Joint Corporate Broker) Tel: +44 (0) 20 7496 3000 Sara Hale / Graham Hertrich / James Todd www.singercm.com Media enquiries: MHP Group (Financial PR) Tel: +44 (0) 7770 753544
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Reg Hoare / Rachel Farrington / Catherine Chapman www.watkinjones@mhpgroup.com 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 c.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 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authorityto act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this informationmay apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the informationcontained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. Forfurther information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END