5th Feb 2021 10:39
(Alliance News) -Â GCP Student Living PLC on Friday reported a slight dip in quarterly portfolio valuation
GCP Student's EPRA net tangible assets per share, cum income, fell 0.2% to 171.38 pence at December 31 from 171.71p at the end of September. The valuation of the company's portfolio was GBP1.03 billion, representing a like-for-like decrease of 0.2% over the quarter.
Back in November, the company said bookings across its portfolio for the 2020/21 academic year stood at 69%, with the substantial majority, around 86%, of those rooms being occupied by residents or subject to nominations agreements.
However, the firm on Friday noted: "The recent intensification of international and national travel restrictions and changes in government guidance has made it difficult for many of the group's residents to occupy their rooms at the present time. This has resulted in a reduction to occupancy levels, with approximately 64% of booked rooms currently occupied and/or subject to nominations agreements. Cancellations during the quarter have slightly reduced bookings levels to 68%."
GCP Student declared a second interim dividend of 0.25 pence per share.
"The quantum of the dividend will be reviewed on a quarterly basis with a view to increasing the quarterly payment when there is greater visibility on the company's revenue prospects," the company said.
GCP Student shares were up 0.1% at 145.00 pence in London on Friday morning.
By Lucy Heming;Â [email protected]
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