Firm aims to double in size
THE boss of the Watkin Jones Group says they hope to double the size of the business as they report further revenue and profit growth.
Bangor-based Watkin Jones Group enjoyed a bumper year, with halfyear revenues up 18% to £158.3m and profits before tax at £23.6m – up 11%.
Mark Watkin Jones, who will step down as chief executive next year, said the student accommodation developer had their sights on continuing to grow, particularly in the Build to Rent sector.
He said the aim was to double the size of the business – which already employs 680 – in the next five to seven years.
The company will investigate setting up a new separate investment vehicle that would act as a prospective buyer of the group’s Build to Rent developments.
He said there was no taking the “foot off the pedal” ahead of the handover to new chief executive Richard Simpson next January.
Mr Watkin Jones added: “The business is in the best place we have ever been and the vision for the future is to expand.
“I will remain to help with the transition for as long as is needed.”