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Unite Group Suspends FY20 Guidance - Quick Facts

The Unite Group plc (UTG.L) said, due to the risks to rental income as a result of Coronavirus, the Group is suspending guidance for like-for-like rental growth and EPRA earnings per share for 2020. The Board has decided to cancel the 2019 final dividend.

The Unite Group has 291 million pounds of cash and undrawn debt facilities available. The company said it is implementing a number of actions to mitigate cash shortfall, including deferring development and non-essential operational capex and cost savings, which would retain an additional 95 million pounds-105 million pounds of cash in the business in 2020.

Currently, the Group expects the 2020/21 academic year to commence according to its usual timetable in September.

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