Empiric Student Property’s portfolio value has increased to £1bn for the first half of the year, up from £971m in December 2018.
The firm posted positive financial results with its EPRA Net Asset Value per share up by 2% to 108.5p. Its gross margin increased to 68.5%, up from 62.3%, and it said it was on track for its full-year target of more than 67%.
Empiric’s revenue rose by 14% to £35.7m, up from £31.3m, while basic earning per share rose from 3.6p to 4.78p.
Tim Attlee, chief executive of Empiric Student Property, said: “We have made good progress over the past six months and have delivered the most significant part of our operational transformation, from being a real estate owner to a fully integrated operational business with customer service at its heart.
“We continue to develop a dynamic and well-targeted digital marketing platform, and bookings for the 2019/20 academic year are progressing well. We are continuing to improve our financial and operational performance, which remains in line with market guidance, and we are confident in the outlook for our business.”
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