May 6, 2020 / 7:18 AM / 25 days ago

BRIEF-Empiric Student Property Sees 12% Fall In Income For Academic Year 2019/20

May 6 (Reuters) - Empiric Student Property PLC:

* EMPIRIC STUDENT PROP - TRADING UPDATE

* EMPIRIC STUDENT PROPERTY PLC - 55% OF GROUP’S STUDENT ACCOMMODATION BEDROOMS CONTINUE TO BE OCCUPIED BY RESIDENTS

* EMPIRIC STUDENT PROPERTY PLC - GROUP EXPECTS A TOTAL REDUCTION IN INCOME FOR CURRENT ACADEMIC YEAR 2019/20 OF UP TO 12% (£8 MILLION)

* EMPIRIC STUDENT PROPERTY - CONTINUING TO RECEIVE BOOKINGS FOR ACADEMIC YEAR 2020/21, WITH 47% OF ROOMS NOW RESERVED, COMPARED WITH 54% LAST YEAR

* EMPIRIC STUDENT PROPERTY - DEMAND FROM INTERNATIONAL STUDENTS IS CONTINUING ALBEIT AT LOWER LEVELS, BUT STARTING TO SEE MORE BOOKINGS FROM UK DOMESTIC

* EMPIRIC STUDENT PROPERTY - BEGINNING TO SEE AN INCREASE IN REQUESTS FOR SELF-CONTAINED STUDIOS AND EN-SUITE ACCOMMODATION

* EMPIRIC STUDENT PROPERTY PLC - IS IN DISCUSSIONS WITH ITS BANKS AROUND POTENTIAL FUTURE FUNDING REQUIREMENTS

* EMPIRIC STUDENT PROPERTY PLC - BOARD RETAINS ITS PREVIOUS GUIDANCE OF A REDUCTION IN NET CASH OUTFLOWS OF C.£26 MILLION FOR 2020 CALENDAR YEAR Source text for Eikon: Further company coverage:

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