- Empiric Student Property said revenue was expected to be approximately 10% higher year-on-year in 2019, driven by an increase in the number of beds and occupancy.

The company also said it had continued efforts to reduce the average cost per bed and expected a reduction of approximately 8% for full-year 2019.

Bookings for the 2019/20 academic year were currently at 93%, in line with the corresponding point in the previous academic year, the company said.

The company also said it expected about 3% growth in average rents for the 2019/20 academic year.

'Full year 2019 performance is on track, with the business expected to achieve a gross margin of around 67% and dividend cover in excess of 85%. Administration costs are expected to be around £9.5m, slightly below the company's previous guidance of £10m,' the company said.

At 9:58am: [LON:ESP] Empiric Student Property Plc share price was -0.45p at 94.45p

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