March 25, 2020 / 8:05 AM / 10 days ago

BRIEF-Unite Group To Forgo Rent For Students Who Choose To Return Home For Remainder Of 2019/20 Academic Year

March 25 (Reuters) - Unite Group PLC:

* UNITE GROUP PLC - CORONAVIRUS UPDATE

* UNITE GROUP PLC - WILL OFFER TO FORGO RENT FOR STUDENTS WHO CHOOSE TO RETURN HOME FOR REMAINDER OF 2019/20 ACADEMIC YEAR

* UNITE GROUP PLC - FORGO RENT FOR STUDENTS IMPLIES A REDUCTION IN GROUP CASHFLOW OF £90-125 MILLION IN 2020

* UNITE - DEFERRING DEVELOPMENT & NON-ESSENTIAL OPERATIONAL CAPEX & COST SAVINGS, WHICH WOULD RETAIN ADDITIONAL £95-105 MILLION OF CASH IN BUSINESS IN 2020

* UNITE GROUP - BOARD HAS DECIDED TO CANCEL FINAL DIVIDEND FOR 2019 AND SUSPEND FURTHER DISTRIBUTIONS BY COMPANY UNTIL MARKET CONDITIONS STABILISE

* UNITE GROUP PLC - CANCELING DIVIDEND WOULD RETAIN AN ADDITIONAL £124 MILLION IN CASH DURING 2020 IF NO DIVIDEND PAYMENTS ARE MADE

* UNITE - FOR INTERNATIONAL STUDENTS UNABLE TO RETURN HOME AT END OF TENANCIES, WILL PROVIDE ACCOMMODATION OVER SUMMER MONTHS AT NO FURTHER CHARGE

* UNITE - LITTLE IMPACT TO DATE ON CO’S SALES PERFORMANCE FOR 2020/21 ACADEMIC YEAR WITH RESERVATIONS AT 78% AND IN LINE WITH SAME TIME LAST YEAR (78%)

* UNITE - SEEN REDUCED NUMBER OF NEW OFFERS TO CUSTOMERS IN PAST WEEK, BUT LEVEL OF CANCELLATIONS & EXPIRED BOOKINGS REMAINED IN LINE WITH PRIOR YEARS

* UNITE GROUP PLC - ON SITE WITH FIVE DEVELOPMENT SCHEMES TOTALLING 3,586 BEDS FOR DELIVERY OVER NEXT TWO YEARS

* UNITE GROUP PLC - 2020 DELIVERIES ARE PROGRESSING WELL

* UNITE GROUP PLC - SUSPENDING GUIDANCE FOR LIKE-FOR-LIKE RENTAL GROWTH AND EPRA EPS FOR 2020

* UNITE GROUP PLC - PLANNING TO DEFER DELIVERY OF TWO 2021 COMPLETIONS INTO 2022. THIS WILL LEAD TO A CASH SAVING OF £72 MILLION DURING 2020 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below