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Unite Group To Operate Reduced Programme; Says No Noticeable Impact On FY Sales

Unite Group plc (UTG.L) said it plans to operate a reduced programme of summer business in 2020 due to the risk of disruption to bookings from the coronavirus.

The company noted that the removal of variable costs associated with its summer business will help to mitigate the impact on earnings, which it does not expect to be material. Summer business accounted for 3% of rental income in 2019.

There has been no noticeable impact to date on Unite's sales performance for the 2020/21 academic year. Reservations are currently 77%, same with last year. Sales to and enquiries from international students remain in line with prior years.

The company confirmed that some face-to-face teaching has been suspended in the weeks leading up to Easter. University campuses, libraries and halls of residence remain open.

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