GCP Student Living expects bookings to be in line with the current academic year

GCP Student Living PLC (LON:DIGS) said growth in bookings for the next academic year will be in line with 2019/20.

The investor said it is monitoring the impact of the coronavirus outbreak but current residents “continue to occupy their rooms”.

“When it comes to bookings for next year, we have seen no impact in terms of reduction,” a spokesperson told Proactive, adding it is in line with expectations.

“Students are probably not being put off by the virus, they think come September they will be able to travel and come to the UK.”

International students account for 69% of occupants, rising to 82% including EU nationals. 

“Chinese students are our biggest demographic, which is not surprising given China is the largest cohort of university students in the UK,” the spokesperson commented.

The firm, which joined the FTSE 250 in September, added it is “difficult to quantify” the impact of Brexit in the university accommodation market.

In the six months to 31 December, the net asset value per share jumped 10% to 174.71p, while rental income advanced 15% to £24mln.

Shares dropped 3% to 188.4p on Friday at the opening bell.

–Adds spokersperson’s comment–