Unite Students has turned its 2020 loss around, posting a £343.1m profit in its 2021 results.
Chief executive Richard Smith said the business had seen “a strong recovery in performance” and pointed to an improved outlook for the market as it looks to step up development.
“The outlook for the business and the UK higher education sector is strong, driven by rising participation rates, increased demand for our product from returning students, significant and sustained demographic growth and government support for growth in international student numbers,” Smith said.
“We have our biggest ever development pipeline and the balance sheet capacity to pursue new growth opportunities through university partnerships and targeted acquisitions.”
The company’s adjusted earnings for the year to 31 December came in at £110.1m, up by a fifth on a year earlier, with an 8% gain in NTA per share to 882p.
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