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GCP Student Living posts 'strong' results

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.

Posted on: 08/10/2015

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