Watkin Jones plc

('Watkin Jones' or the 'Company')

H1-2025 Trading Update

The Group provides the following trading update for the half year ended 31 March 2025 (the 'period' or 'H1-2025').

In what remains a challenging market backdrop, management have continued to focus on delivery, cost management and cash generation. Our strong operational focus is expected to result in a small positive operating profit for the period, with good construction delivery on in-build schemes which have traded in line with our stated margin guidance.

As announced during the first half, we signed two development partnerships in the period, both of which have started on site (St Helens new homes and Southwark aparthotel). We continue to actively market and engage with investors on our development opportunities which are attracting good levels of interest. We remain positive on the outlook for our Refresh model and continue to grow this pipeline and that for our development partnerships.

Continued effective cash control means that our cash position remained robust through the period, with gross and net cash at 31 March 2025 of c.£87m (H1 24: £67m) and c.£73m (H1 24: £44m), respectively.

We are monitoring market volatility and conditions closely, in particular those relating to residential transactional liquidity, but our current pipeline continues to provide the potential to deliver an expected stronger second half.

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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 49,000 student beds across 147 schemes, 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. In addition, Fresh, the Group's specialist accommodation management business, manages over 16,800 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 50 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