Watkins Jones is expecting to report a “good cash performance” for the year ending 30 September 2019.
The student accommodation-focused developer is expecting to post revenue and earnings for FY19 in line with its expectations.
It said all of its business segments delivered on their objectives for the year. As scheduled, it completed 2,723 beds as part of six purpose-built student accommodation developments.
The group has also forward sold all seven of its PBSA developments (2,609 beds) scheduled for delivery in FY20 and has forward sold 1,928 beds across four schemes for delivery in FY21, with a further 448 beds currently in legals for sale.
The firm also indicated that at its Capital Markets Day to be held later today (5 November) it will outline details of its plans to reach a run rate of around 3,500 student beds per year in the coming years and 1,000 per year in build-to-rent.
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