28th Jul 2026 10:52
(Alliance News) - Unite Group PLC on Tuesday backed its full-year outlook as it highlighted positive momentum in leasing for the upcoming academic year.
The Bristol-based student accommodation provider reported an IFRS pretax loss of GBP417.1 million in six months ended June 30, swung from a GBP186.1 million profit the year prior.
Unite said this was principally driven by the 6.4% reduction in property values, as yields increased.
Adjusted earnings edged down 1.6% to GBP142.0 million from GBP144.2 million, with adjusted earnings per share of 27.1 pence, down 8.1%, compared with 29.5p.
Unite said the decline in adjusted earnings reflected increased interest costs, disposals completed in 2025, and lower occupancy, plus the acquisition of Empiric Student Property PLC.
EPRA net tangible asset per share fell 12% to 865p from 986p as did IFRS net value per share to 879p from 998p, reflecting lower property valuations.
Looking ahead, Unite said demand to study at the UK's strongest universities is robust and growing and these fundamentals underpin sustained high occupancy and rental growth.
The firm said it is seeing positive momentum in leasing for the 2026-27 academic year which supports like-for-like income growth of up to 2% for 2026-27. As a result, Unite retained guidance for adjusted EPS of 41.5p to 43.0p in calendar 2026.
The interim dividend was unchanged at 12.8p per share.
Shares in Unite fell 2.6% to 543.00p each in London on Tuesday.
By Jeremy Cutler, Alliance News reporter
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