Earlier today the Group’s interim results were announced to the City which showed a strong Half Year performance to 31st March 2020.
Richard Simpson, Chief Executive Officer of Watkin Jones, said:
“The half year performance was strong and continued the momentum towards our multi-year growth strategy which we set out in November 2019. Our businesses have all performed well in the period and in-line with expectations. We have responded carefully and cautiously to the challenges presented by the COVID-19 pandemic and subsequent lock-down. Primarily, we have focused on ensuring the health and safety of employees, tenants and other stakeholders, with development sites initially being closed to all non-essential work. Gradually, we have been able to reopen most of them, to the extent allowed under social distancing and government rules. I would like to thank all our employees, tenants and other partners who have responded so positively to this difficult situation.
Secondly, we have strengthened further our financial position by conserving cash; reducing costs, suspending the interim dividend and extending borrowing facilities. We believe that this ensures the long-term resilience of the business as well as its capability to respond quickly as markets recover. The Board believes that the Group is now well-positioned for future growth and to take advantage of economic opportunities that may arise from the current unprecedented situation.”