Unite maintains guidance, reports solid start to new year
By Benjamin Chiou
Date: Thursday 09 Jan 2025
(Sharecast News) - Student accommodation group Unite has reiterated its profit guidance after a solid end to its financial year, as it pointed to continued strong occupancy levels and rental growth over the next academic year.
Trading over the fourth quarter was said to have been in line with expectations and the company still expected adjusted earnings per share to hit the upper end of its 45.5-46.5p guidance range.
Chief executive Joe Lister said the company had made a "strong start" to the 2025/26 sales cycle, with 66% of beds already sold, albeit down from 70% at this time last year.
"The outlook for student numbers remains positive with a growing UK 18-year-old population and improving trends in international student recruitment given a more settled policy backdrop in recent months. This supports our confidence in delivering full occupancy and rental growth of 4-5% for the 2025/26 academic year," Lister said.
Occupancy levels for the 2025/26 academic year are expected to be 97-98%, the company said.
Rental growth drove valuation increases in the fourth quarter of 0.3% for the Unite UK Student Accommodation Fund (USAF) and 0.7% for the London Student Accommodation Joint Venture (LSAV).
USAF's property portfolio was valued at £2.88bn, a like-for-like increase of 4.5% for the year, while LSAV's valuation rose 6.0% to £2.06bn.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN