Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, is today reporting its half year results for the six months ended 30 June 2021.

Financial highlights:

• 30 June 2022 | 30 June 2021 | Change
• Revenue: £35.6m | £25.9m | +37%
• Property costs:  £10.6m |  |£10.9m | -3%
• Gross margin: 70.2% | 57.9% | +21%
• Administrative expenses: £6.3m | £5.3m | +20%
• Adjusted earnings per share: 1.97p | 0.59p | +234%
• (Loss)/Gain on disposal of investment property: (£0.1)m | £1.7m | -109%
• Change in fair value of  investment property: £58.6m | £1.8m | +3,141%
• Profit before taxation: £70.3m | £7.0m | +904%
• Dividends paid: 7.5m | - |  -
• Loan to value (%): 32.8% | 33.1% | -1%

 

• 30 June 2022 | 31 December 2021 | Change 
• Property valuation: £1,087.7m | £1,021.8m | +6%
• EPRA NTA Per share: 117.8p | 107.4p | +10%
• Total return (%): 10.9% | 1.1% | +890%

 

To access the interim report, please click here.

To see the full announcement please click here.