Proactiveinvestors United Kingdom Unite Group https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Unite Group RSS feed en Wed, 22 May 2019 12:04:41 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Equity Raise and Acquisition ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190520070006_14079258/ Mon, 20 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190520070006_14079258/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190517161056_14079032/ Fri, 17 May 2019 16:10:56 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190517161056_14079032/ <![CDATA[RNS press release - Results of Scrip Dividend Election ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190510110123_14069886/ Fri, 10 May 2019 11:01:23 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190510110123_14069886/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190509123558_14068501/ Thu, 09 May 2019 12:35:58 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190509123558_14068501/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190509120523_14068451/ Thu, 09 May 2019 12:05:23 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190509120523_14068451/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190430130001_14057539/ Tue, 30 Apr 2019 13:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190430130001_14057539/ <![CDATA[RNS press release - SCRIP REFERENCE SHARE PRICE- 2018 FINAL DIVIDEND ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190418095221_14046241/ Thu, 18 Apr 2019 09:52:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190418095221_14046241/ <![CDATA[RNS press release - Quarterly Valuation Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190408070006_14031631/ Mon, 08 Apr 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190408070006_14031631/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190329130004_14021738/ Fri, 29 Mar 2019 13:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190329130004_14021738/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190228130003_13985646/ Thu, 28 Feb 2019 13:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190228130003_13985646/ <![CDATA[News - Unite cautious on Brexit, higher education funding uncertainties after posting solid 2018 results ]]> https://www.proactiveinvestors.co.uk/companies/news/215401/unite-cautious-on-brexit-higher-education-funding-uncertainties-after-posting-solid-2018-results-215401.html Unite Group PLC (LON:UTG) has warned about the impact of uncertainty from Brexit and a review of higher education funding in the year ahead as the student accommodation firm reported solid income and capital growth in 2018 and rewarded shareholders with a 28% dividend hike.

For the year ending in December 2018, the FTSE 250-listed firm recorded a 7% increase in pre-tax profits to £245.8mln, while EPRA earnings - an underlying measure of performance preferred by the company - grew by 25% to £88.4mln.

READ: Assura and Unite downgraded to ‘Hold’ by Liberum as orderly Brexit upside priced into sector

Unite's net debt increased by 7% to £856mln, but its loan-to-value decreased to 29% from 31% the previous year.

The group announced a total dividend of 29p per share for 2018, up from 22.7p the previous year. 

Richard Smith, Unite's chief executive said: "Looking ahead, we maintain our positive outlook for the business.

Reservations for the 2019/20 academic year are in line with record levels for this time of year, supporting our like-for-like rental growth guidance of 3.0-3.5%.

Our secured development and University partnerships pipeline of 6,579 beds being delivered over the next four years will further improve operating efficiency and generate significant earnings growth."

He added: "Whilst the backdrop of the ongoing Brexit negotiations and the impending review into Higher Education funding provide some uncertainty, our strategy of aligning to the best Universities and providing good-quality, value-for-money accommodation for resilient segments of the market reinforces our long-term confidence in the business.

"This confidence is reflected in our 28% increase in the full-year dividend."

In a note to clients, analysts at Liberum Capital commented: “Unite’s resilient LFL income growth and a large development pipeline with an expected 7% yield should continue to support sector-leading returns. Nevertheless, following its strong performance, we see the shares as fairly valued for now.”

Liberum maintained a “hold” rating with a target price of 950p. 

In late morning trading, Unite shares down 1.6% to 910.50p. ]]>
Wed, 27 Feb 2019 09:04:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215401/unite-cautious-on-brexit-higher-education-funding-uncertainties-after-posting-solid-2018-results-215401.html
<![CDATA[RNS press release - Results for the year ended 31 December 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190227070005_13982803/ Wed, 27 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190227070005_13982803/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190215095722_13970997/ Fri, 15 Feb 2019 09:57:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190215095722_13970997/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190131170934_13954263/ Thu, 31 Jan 2019 17:09:34 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190131170934_13954263/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190130090001_13951636/ Wed, 30 Jan 2019 09:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190130090001_13951636/ <![CDATA[RNS press release - Quarterly Valuation Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190109070002_13928145/ Wed, 09 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20190109070002_13928145/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181231120001_13919530/ Mon, 31 Dec 2018 12:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181231120001_13919530/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181203130001_13889272/ Mon, 03 Dec 2018 13:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181203130001_13889272/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181130130005_13887320/ Fri, 30 Nov 2018 13:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181130130005_13887320/ <![CDATA[RNS press release - Update on 2018 AGM resolution votes ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181128130001_13883870/ Wed, 28 Nov 2018 13:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181128130001_13883870/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181102143058_13853624/ Fri, 02 Nov 2018 14:30:58 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181102143058_13853624/ <![CDATA[RNS press release - Results of Scrip Dividend Election ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181029142056_13846324/ Mon, 29 Oct 2018 14:20:56 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181029142056_13846324/ <![CDATA[News - Student accommodation firm Unite Group says full year rental growth on track ]]> https://www.proactiveinvestors.co.uk/companies/news/206644/student-accommodation-firm-unite-group-says-full-year-rental-growth-on-track-206644.html Student accommodation provider Unite Group PLC (LON:UTG) said on Tuesday full year rental growth is in line with its target of 3-3.5% on the back of strong demand from partner universities.

The company also announced the issue of a 10-year £275mln senior unsecured bond at a rate of 3.5%, which will be used to fund general corporate purposes and the company’s development pipeline. 

Unite said 98% of its accommodation has been let for the 2018/19 academic year. The portfolio valuations of the Unite UK Student Accommodation Fund and the London Student Accommodation Fund are up 1.1% and 1.6% respectively.

READ: Unite Group targets portfolio growth as profits jump in first half

The EBIT margin is expected to reach 70% for the year, up from 68% in 2017, and the company aims to improve margins to 74% by 2021.

"It's great to see the momentum we achieved at the half year continuing,” said Unite Students chief executive Richard Smith.

“The supportive market dynamics are underpinned by a portfolio focused on universities where demand is strongest and our growing university partnerships. We have delivered on our efficiency targets in 2018. Going forward, we expect to deliver further efficiency gains, primarily through growing the scale of the portfolio under management."

In September the group completed the disposal of 13 properties for £180.5mln and opened seven new student residents in Birmingham, Bristol, Durham, Newcastle, Portsmouth and Sheffield. Beds at the new properties are fully let to students attending high and mid-ranked universities and 52% of these beds are secured on nomination agreements with an average life of 10 years. 

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Tue, 09 Oct 2018 07:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206644/student-accommodation-firm-unite-group-says-full-year-rental-growth-on-track-206644.html
<![CDATA[RNS press release - Capital Markets Day and Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181009070101_13820949/ Tue, 09 Oct 2018 07:01:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181009070101_13820949/ <![CDATA[RNS press release - £275 million senior unsecured bond ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181009070004_13820857/ Tue, 09 Oct 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181009070004_13820857/ <![CDATA[RNS press release - USAF/LSAV Valuation update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181008070005_13819216/ Mon, 08 Oct 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20181008070005_13819216/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180928150002_13809527/ Fri, 28 Sep 2018 15:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180928150002_13809527/ <![CDATA[RNS press release - SCRIP REFERENCE SHARE PRICE- 2018 INTERIM DIVIDEND ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180927090316_13806808/ Thu, 27 Sep 2018 09:03:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180927090316_13806808/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180914141109_13791793/ Fri, 14 Sep 2018 14:11:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180914141109_13791793/ <![CDATA[RNS press release - Unite disposes of 14 properties for £180.5 million ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180910070006_13783833/ Mon, 10 Sep 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180910070006_13783833/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180831140001_13775093/ Fri, 31 Aug 2018 14:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180831140001_13775093/ <![CDATA[RNS press release - Director Declaration ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180830095555_13772967/ Thu, 30 Aug 2018 09:55:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180830095555_13772967/ <![CDATA[RNS press release - Notice of Capital Markets Day ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180824100419_13767612/ Fri, 24 Aug 2018 10:04:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180824100419_13767612/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180731130001_13738084/ Tue, 31 Jul 2018 13:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180731130001_13738084/ <![CDATA[News - Unite Group targets portfolio growth as profits jump in first half ]]> https://www.proactiveinvestors.co.uk/companies/news/201418/unite-group-targets-portfolio-growth-as-profits-jump-in-first-half-201418.html Unite Group PLC (LON:UTG) is targeting a marked increase in its property portfolio over the next few years after reporting a jump in pre-tax profits in its half-year results.

The FTSE 250 student accommodation group reported a pre-tax profit of £142.5mln for the period, up from £83.9mln in the same period a year ago while revenues increased to £52.9mln from £40.4mln. The firm also hiked its interim dividend by 30% to 9.5p.

6,500-bed development pipeline

Unite also said that its development pipeline comprised of 6,500 more beds that were due for delivery over the next three years, while it was also on track to open 3,075 new beds across seven new buildings for the 2018/19 academic year.

The firm added that reservations for the upcoming academic year stood at 91% of its portfolio, supporting a rental growth outlook for the 2018/19 period of between 3%-3.5%.

In its outlook, the company said the fundamentals of the sector provided a “supportive backdrop” as UK universities extended their global reputations and student intakes remained in line with record levels seen over the last few years.

Unite added that its approach to university partnerships, alongside several other opportunities such as energy efficiency savings, would drive growth in the medium term.

Richard Smith, chief executive of Unite, said that the company’s focus on its “operating platform, property platform and university partnerships, supported by attractive market dynamics” had continued to drive growth.

He added that the company’s “market leading brand, scalable operating platform and deep development pipeline” left it on track to deliver its expected earnings and dividend growth for the full year.

In a note to clients, analysts at City broker Liberum said that Unite had delivered income and capital growth ahead of their expectations.

They added that “Unite remains a key sector pick given its predictable rental growth, pipeline of higher return developments and scale efficiencies which should drive sector-leading returns”.

In early morning trading Tuesday, Unite shares were down 0.3% at 837p.

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Tue, 24 Jul 2018 08:41:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201418/unite-group-targets-portfolio-growth-as-profits-jump-in-first-half-201418.html
<![CDATA[RNS press release - Half Year Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180724070009_13728377/ Tue, 24 Jul 2018 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180724070009_13728377/ <![CDATA[RNS press release - Appointment of Non-Executive Directors ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180723150001_13727973/ Mon, 23 Jul 2018 15:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180723150001_13727973/ <![CDATA[RNS press release - USAF/LSAV Quarterly Valuation Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180709070004_13709580/ Mon, 09 Jul 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180709070004_13709580/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180629140002_13699794/ Fri, 29 Jun 2018 14:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180629140002_13699794/ <![CDATA[RNS press release - Planning Approval ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180607070004_13670051/ Thu, 07 Jun 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180607070004_13670051/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180605090002_13667135/ Tue, 05 Jun 2018 09:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180605090002_13667135/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180601130001_13664062/ Fri, 01 Jun 2018 13:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180601130001_13664062/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180531130006_13661974/ Thu, 31 May 2018 13:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180531130006_13661974/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180521155838_13649246/ Mon, 21 May 2018 15:58:38 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180521155838_13649246/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180518070005_13646130/ Fri, 18 May 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180518070005_13646130/ <![CDATA[RNS press release - RESULTS OF SCRIP DIVIDEND ELECTION ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180515090001_13641317/ Tue, 15 May 2018 09:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180515090001_13641317/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180510133029_13636693/ Thu, 10 May 2018 13:30:29 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180510133029_13636693/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180430144117_13624160/ Mon, 30 Apr 2018 14:41:17 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180430144117_13624160/ <![CDATA[RNS press release - SCRIP REFERENCE SHARE PRICE - 2017 FINAL DIVIDEND ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180419083727_13610719/ Thu, 19 Apr 2018 08:37:27 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180419083727_13610719/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180411145234_13600875/ Wed, 11 Apr 2018 14:52:34 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3110/LSE20180411145234_13600875/