StockMarketWire.com - Student accommodation and build-to-rent developer Watkin Jones said it expected to report annual revenue and earnings in line with expectations following 'strong' trading in the fourth quarter.

The company said six purpose-built student accommodation, or PBSA, developments scheduled for delivery for the year through September were successfully completed.

Good progress was also made in the development of forward-sold PBSA and build-to-rent, or BtR, assets scheduled for delivery in 2020 and 2021 financial years, the company said.

'A robust performance was also achieved by the Fresh Property Group and residential businesses,' it added.

'The board is encouraged by the increasing level of investor demand that is being demonstrated for BtR assets,' Watkin Jones said.

'This provides confidence that there is a broad range of potential institutional investors with whom the group can engage in order to replicate in BtR the low risk forward sale model that has been so successful for PBSA.'

'The pipeline of forward sold and secured development sites ensures that the group continues to maintain good visibility over future revenues and earnings, whilst the fundamentals supporting the PBSA and BtR markets remain strong.'

'The board remains confident in the outlook for the group and consider that it is well positioned to capitalise further on the opportunities open to it.'



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