- GCP Student Living's rental income rose to £13m in the six months to the end of December - up from £9m a year ago.

The total return for the period was 15.1% compared with 7.8% last time.

The company said it successfully raised £23 million through a substantially oversubscribed placing of ordinary shares in December and the annualised total return since IPO of 16.3% was in excess of the company’s target return of 8-10%.

Chairman Robert Peto said: "The focus on assets offering long-term rental growth prospects has delivered full occupancy across the portfolio and rental growth of 3.9% compared with the 2015/16 academic year, substantially ahead of the national average of 1.9%.

"The company continues to deliver an attractive dividend return to shareholders, with 2.86 pence per share paid during the period, and has generated annualised total returns since IPO in 2013 of 16.3%."

At 8:14am: [LON:DIGS] GCP Student Living Plc share price was -1.12p at 146.88p

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