Builder Watkin Jones swung to a half year loss due to future costs to deal with remediation works and also revealed it planned to drop its historic name after 200 years.
The Bangor-based company that specialises in student blocks and built-to-rent housing posted half year revenues to March 31 2022 of £193m - up 8% on the previous year.
However following a review of all buildings over 11 metres tall developed by the company over the last 30 years, Watkin Jones has recognised an exceptional charge of £28m for the potential costs of the remediation work required in the new UK Government Building Safety Act.
