Real estate investment trust (REIT) GCP Student Living has announced "strong" results for the financial year ended 30 June 2015.
The company’s profit climbed from £7.7 million in 2014 to £31.3 million this year, while its revenue also grew from £9.1 million to £11.5 million.
Net operating margin was 78% this year, down slightly from 82% last year. Total shareholder returns, meanwhile, stood at 26% compared to11.5% last year.
Robert Peto, chairman of GCP, said: "I am pleased to report a year of strong performance and growth. The company has paid dividends of 5.60 pence per share in respect of the year and delivered a total shareholder return of 26%, considerably in excess of its annualised target of 8-10%."
In June this year, the REIT raised £120 million through a shares offering. It claims to be the UK's first student accommodation focused REIT.