Watkin Jones revises underlying profit down to break-even

By Carl Brown2023-10-11T11:05:00

Troubled student housing developer incurred extra costs as it raced to complete schemes

Watkin Jones has said underlying profit for the year will now break-even, after previously warning it would be unlikely to top £2m.

The troubled student housing and build-to-rent developer, in a trading update for the year to 30 September, said it now expects its underlying profit before taxes and interest, which excludes one off items, will “approximately” break even.

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