StockMarketWire.com - Student accommodation investor GCP warned it expected to receive 'materially' reduced revenues than budgeted for the final term of the current academic year thanks to the Covid-19 outbreak.

The company had received 74% of budgeted rent for the current academic year.

But it added that if disruption caused by the Covid-19 pandemic continued through the remainder of the 2020 calendar year, its rental income would be 'materially' adversely impacted.

Direct let bookings for the forthcoming 2020-to-2021 academic year were ahead of bookings as compared with the same time last year.

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