Watkin Jones has seen both turnover and profit fall in its full-year results.
For the year ending 30 September 2025, the BtR and PBSA developer recorded a statutory pre-tax loss of £8.7million, declining from the previous year when it saw statutory losses of £0.3million.
Watkin Jones’ adjusted pre-tax profit also fell, decreasing to £5.6million from £9.2million in 2024.
During the period, the developer incurred exceptional charges of £7.1million in land and asset impairments, £5million in remedial costs and an additional £2.2million for the unwinding of the discount rate on its building safety provision.
The housebuilder reported a full-year revenue of £279.8million, predominantly derived from previously sold development on-site and three new development partnerships which it entered into during the period. This was down from £362.4million the previous year.
During the year, Watkin Jones said that it made good pipeline progression, entering into a number of innovative transaction structures including a development partnership to deliver a 260-unit aparthotel in Southwark and a Glasgow joint venture to deliver 784 beds.
The housebuilder also achieved planning for a further 1,140 PBSA and around 230 BtR units across three schemes, while also securing three BtR development sites to deliver around 1,100 units, subject to planning.
Despite the decreasing figures, Watkin Jones says that it enters 2026 “with confidence”, due in part to total development pipeline opportunities of around £2billion and £340million of contractually secured forward sold revenue.
Alex Pease, chief executive officer of Watkin Jones, said: “FY25 has seen the benefits of our evolved strategy help mitigate some of the effects of the challenging backdrop over the last three years. This resilient performance reflects a combination of strong operational delivery, a more agile approach to transactional structuring, and the increasing contribution from our diversified activities. With a strong pipeline, highly skilled and motivated workforce and continued revenue diversification, we enter 2026 with confidence in the strength of our operational platform and our ability to create long-term value for our stakeholders.”
