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512.00 -20.50 (-3.85%)

Bid:

509.00

Ask:

510.50

Spread: 1.50 (0.295%)

Market Cap: £2.64b

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Unite Group gives optimistic interim update

Tue, 04th Nov 2014 15:10

Student accommodation developer Unite Group said in its interim statement that 99% of its rooms were occupied during the academic year 2014/15.It also said it expects to achieve its target for a 4.5% earnings per share (EPS) yield on net asset value (NAV) target for the year of 2014 one year before previously expected.Unite is developing its pipeline with new planning permissions in Portsmouth, Aberdeen and Liverpool.Chief executive Mark Allan said: "Unite Students continues to perform strongly in all areas."We also continue to make good progress growing our development pipeline, providing excellent visibility of the material future earnings growth potential of the business."Shares were up 2.04% to 435p at 15:55 on Tuesday.