| Item | 2015 result | % change year on year |
|---|---|---|
| Earnings | £49.5m | 49 |
| Earnings per share | 28.6p | 66 |
| NAV per share | 579p | |
| NAV | 33 | |
| Rental growth | 3.8 | |
| Initial yield | 70bps |
Unite Students has posted a 33% rise in its NAV over the full year 2015 to the end of December, according to its latest financial report.
Ahead of the the removal of caps on student numbers, the student accommodation provider posted EPRA-adjusted earnings of £49.5m, up 49% year on year, and predicts further growth, with reservations for 67% of its space already in place for the 2016-17 academic year.
Like-for-like rental growth was up by 3.8% on 2014. Initial yields hardened by 70bps to 5.55%.
The portfolio of 46,000 beds was valued at £3.8bn including joint ventures, with Unite taking a £1.8bn share.
The company has a 2016 pipeline of a further 6,800 beds, with a market value of £230m. Schemes providing another 2,300 have been given planning permission for 2017.
Earnings per share were up by 66% to 28.6p, with NAV per share at 579p.
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