GCP Student Living - Strong H119 progress and positive outlook
Strong growth continued at GCP Student Living (DIGS) in H119. Rental income benefited from development/refurbishment completions, above inflation rental growth and continued full occupancy. Profitability showed the benefit of scale economies, with the operating margin increasing. Dividend cover increased strongly to 81%, well on track for full cover on a fully developed and let basis. The existing portfolio is performing well (H119 NAV total return of 7.9%), developments are on track to deliver further income growth, and the company continues to identify attractive opportunities for further growth.GCP Student Living is a closed-ended investment company. Co. is a real estate investment trust in the U.K. to focus on student residential assets. Co. is engaged in a single segment of business, being the investment and provision of student accommodation facilities (including ancillary retail and teaching facilities) in the U.K. Co.'s property portfolio consists of student accommodation focusing on international students, postgraduates and domestic students alike.
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