Unite profits rise as Covid restrictions ease
By Frank Prenesti
Date: Wednesday 27 Jul 2022
(Sharecast News) - Student accommodation provider Unite posted a rise in interim profits as Covid restrictions were eased on higher education.
Pre-tax profits surged to £334.1m from £130.4m to in the six months to June 30. Rental income rose to £127.7m from £116.8m.
"Our business model offers inflationary protection but, like others, we are not immune from the impact of rising costs and interest rates," said chief executive Richard Smith.
"We are also very conscious of the current cost of living pressures facing students and parents.
"Despite increased economic uncertainty, we remain confident in our ability to deliver significant growth over the medium to long term.
Reporting by Frank Prenesti at Sharecast.com
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