Watkin Jones trading in line, confident in outlook for full year

Shares in Watkin Jones advanced a little over 3% after it said trading was in line with expectations after a successful first-half, and that it was confident in the outlook for the full year.

Chief executive Mark Watkin Jones was pleased with the company's performance.

This performance, he said, continued to reinforce the attractiveness of its end-to-end business model to institutional investors.

"The market for purpose built student accommodation in the UK continues to grow and demand for our product remains strong," said the chief executive in a pre-close trading statement.

"The Group is making good progress with its drive into the Private Rented Sector (PRS) having completed its first PRS scheme in Leeds of 322 units and has secured a 132 unit development site in Sutton."

It was also working on a number of planning applications and other site acquisition opportunities.

"The group's progress in delivering the current development pipeline is encouraging and the Board remains confident in the outlook for the full year."

At 13:33 GMT, shares in AIM-listed Watkin Jones were up 3.33% to 155p each.