StockMarketWire.com - Student accommodation company Unite Students warned on performance as rental income for the 2021-22 academic year was expected to fall short of expectations.

For the full-year 2021, earnings per share is expected in the range of 27 pence to 30p, at the lower end of guidance.

'Latest UCAS data shows a total of 508,000 students placed at UK universities for the 2021/22 academic year, 1.6% below the same stage in 2020/21,' the company said.

Lower rental income in terms two and three of the 2021/22 academic year would reduce rental income for the 2022 financial year by about £8 million to £10 million compared to management's previous forecasts.

Rent collections for the 2020-21 academic year, excluding the impact of the ten-week rental discount offered to customers for the second semester, stood at 96% of rent due, with about 1% of rent still to be billed for the academic year.

About 94% of bed spaces were now let across the company's total portfolio, up from 88% last year, but down from 98% in 2019. This was slightly below management's previous expectations for 95-to-98% occupancy.

The portfolio was valued at GBP2.83 billion, up 1.1% increase on a like-for-like basis during the quarter.




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