Firm aims to dou­ble in size

Bangor Mail - - NEWS - Mark Watkin Jones

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.”

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