Watkin Jones (GB:WJG) has released an update.
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Watkin Jones plc has reported that despite a slower market and fewer transactions than expected due to interest rate uncertainties, they anticipate a significant improvement in FY24 with an adjusted operating profit between £10m and £12m. The company has a strong cash position, with a net cash forecast of £65m, and is actively exploring funding options to capitalize on market recovery. They remain cautious about FY25 projections, expecting profits to not exceed FY24 levels unless market conditions notably improve.
For further insights into GB:WJG stock, check out TipRanks’ Stock Analysis page.
