Company confident of achieving rental growth despite challenges

  • Empiric Student Property’s pretax profit for 2023 fell due to higher costs and decreased property values
  • Revenue rose to GBP80.5 million from GBP73 million
  • The company is well positioned for growth in the coming year
  • Dividend declared at 0.9375 pence per share

Empiric Student Property reported a decrease in pretax profit for 2023, citing higher costs and a decline in the value of investment properties. Despite these challenges, the company remains optimistic about its growth prospects for the coming year. Revenue for the year increased to GBP80.5 million, up from GBP73 million. The board declared a dividend of 0.9375 pence per share, bringing the total for the year to 3.5 pence. Empiric Student Property has already secured over 60% revenue occupancy for the 2024-25 academic year and expects to achieve further success in terms of occupancy. The company believes that rental growth of over six percent can be achieved this year, even as inflation moderates. Shares of Empiric Student Property remained flat at 94 pence.

Factuality Level: 7
Factuality Justification: The article provides specific financial information about Empiric Student Property, including pretax profit, revenue, dividend declaration, and future outlook. The information seems to be based on the company’s official statements and financial reports, without any obvious bias or misleading content. However, the article lacks in-depth analysis or context about the company’s performance and the student accommodation market in general.
Noise Level: 3
Noise Justification: The article provides relevant information about Empiric Student Property’s financial performance, future outlook, and key metrics. It includes data on pretax profit, revenue, dividend declaration, and occupancy rates. The article stays on topic and does not contain irrelevant or misleading information. It supports its claims with specific numbers and quotes from the company. However, it lacks in-depth analysis, antifragility considerations, or accountability of powerful people, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the London Stock Exchange, where Empiric Student Property is listed.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not mention any extreme events or significant impacts on financial markets or companies. It primarily focuses on the financial performance and outlook of Empiric Student Property.
Public Companies: Empiric Student Property (N/A)
Key People: Anthony O. Goriainoff (N/A)

Reported publicly: www.marketwatch.com