Empiric Student Property PLC - London-based owner and operator of student accommodation - Chief Financial & Sustainability Officer Lynne Fennah will step down in May next year. Empiric will start looking for a replacement. Fennah joined the company in 2017 as CFO, later taking on the additional role of chief operating officer and additional responsibilities when Empiric was between chief executives in 2020.
Empiric said it has reached 68% revenue occupancy for the coming academic year, ahead of the 62% letting it had achieved by this point last year. It is targeting the upper end of its 85% to 95% occupancy guidance range for the 2022-23 academic year, with improved rental prices. The company continues to expect to pay a dividend in 2022 that at least matches the 2.5 pence per share paid for 2021. Empiric will release its half-year results on August 11.
Current stock price: 87.52 pence
12-month change: down 1.7%
By Tom Waite; thomaslwaite@alliancenews.com
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Empiric (ESP)