London weighting boosts Unite

The student accommodation group Unite said full-year recurring profit would likely beat expectations, and it was well placed to outperform the wider sector in Britain, helped by its focus on London.

Unite said it had seen strong sales in its 2011/12 year to date, with 99 per cent of rooms sold, against 97 per cent a year ago. Year-on-year growthin net operating income was expected to be about 3.1 per cent, with strong rental growth of 4 per cent partially offset by higher operating costs, Unite said.