Unite adopts new London student housing focus
Unite Group, the student accommodation company, is to change its business model, by focusing on London and retaining ownership of its developments.
In its results for 2010 published on Wednesday the group said the move would enable it to increase its recurring profits and, therefore, pay a regular dividend to shareholders.
After increasing its net asset value by 11% to 295p a share and its underlying income from £0.6m to £4.1m, Unite said it would reinstate its dividend this year “given the encouraging financial performance and positive outlook for the business” …