Property developer Watkin Jones on Tuesday outlined plans to stockpile kitchen sinks, glass and cladding materials to ensure it can build London student digs on time after Britain leaves the EU.
Chief executive Richard Simpson said: “We have asked suppliers to forward purchase a number of materials so there is no construction interruption in the event of a hard Brexit.”
He said a number of products it uses are imported from Italy, Poland and Hungary. Buildings it is working on this year include in Wembley and Walthamstow.
In addition the firm will look to do more work with existing partners, including in Wales where its soft furnishings come from.
Watkin Jones, which also specialises in private rental homes, gave the update alongside reporting pre-tax profits up 25.6% to £54.3 million in the year to September 30.
Revenue rose 20.3% to £363.1 million. The shares edged up 5.5p to 218.5p.
Simpson said: “The group has performed strongly across all key financial metrics of the business.”
