LONDON (dpa-AFX) - Unite Group (UTG.L), that develops and manages student accommodation in the UK, on Tuesday reported profit before tax of 130.4 million pounds or 32.7p per basic share during the half year ended June 30, compared with loss of 73.9 million pounds or 20.4p per basic share last year.
The company posted EPRA earnings of 88.3 million pounds or $22.2p per share for the six-month period, higher than 74.8 million pounds or 20.5p per share in the same period a year ago.
Rental income for the period increased to 116.8 million pounds from 114.9 million pounds last year.
Revenue for the six-month period grew to 140.6 million pounds from 122.6 million pounds a year ago.
The company also declared an interim dividend of 6.5p.
Looking forward, the company expects EPRA EPS of 27-30 pence for FY2021.
'Despite the backdrop of Covid-19, and uncertainty created by the anticipated review of higher education funding, we remain confident in our ability to deliver significant earnings growth and attractive total returns over the medium to long term. Assuming no fundamental change to travel restrictions, we are well positioned and anticipate 95-98% occupancy and 2-3% rental growth in 2021/22. ' said Richard Smith, Chief Executive of Unite Students.
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