Unite posts profit slip

Student accommodation provider Unite’s pretax profits have fallen by 32% over the first six months of the year.

The firm reported a profit of £83.9m in the period, down from £122.8m in the same period last year.

The fall was the result of a lower revaluation surplus, caused by yield compression in 2016, the firm said. It added that the outlook for its business remained positive, with student numbers expected to remain high