2024 Watkin Jones profit guidance cut by 30%, now expects £10-£12m adjusted operating profit.

Watkin Jones, a student housing and property group, has seen its shares drop 30% after cutting its profit guidance. The company now expects an adjusted operating profit of £10-£12m in the financial year 2024, down from a previous forecast of £15-£20m. Analysts at Peel Hunt have reduced full-year pre-tax profit expectations for 2024 by 42% from £13m to £7.5m, but note that net cash is in better shape than anticipated.

August 21, 2024
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