Ian Parsard, Chairman of 138 Student Living, has disclosed that negotiations with the University of the West Indies regarding the Irvine Hall concession agreement are at an advanced stage and are expected to be concluded by the end of the 2025/2026 financial year.
He also disclosed that the company generated net profits of $245.8 million on revenues of $1.4 billion during the financial year which ended on September 30.
This was a big improvement when compared with the net profits of $143.1 million earned on revenues of $1.3 billion recorded during the previous year.
Mr. Parsard indicated, however, that this year was characterized by continued strong operational performance, despite the impact of its ongoing negotiations with the UWI.
These discussions prompted restatement of the company’s financials for 2022, 2023 and 2024, he added.
