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Published on: July 19, 2023

Transaction risks cloud current outlook

Watkin Jones has issued new guidance for FY23E, recognising ‘a greater degree of risk’ regarding anticipated forward-funding transactions completing by the 30 September year-end, with lower profitability also expected for FY24E, while it has identified other impairments and charges. We have downgraded our estimates accordingly. Also, CEO Richard Simpson has stepped down and CIO Alex Pease has taken the role on an interim basis.

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