138 Student Living Jamaica Investments Limited has submitted its unaudited financial statements as of June 30.
The group continues to perform in line with projections, with an average room occupancy of 86 percent for the nine-month period.
For the quarter under review, the group’s revenue was $347 million, an increase of 12 per cent when compared with the $309 million recorded in the corresponding period last year.
To bolster revenue, the group has implemented multiple strategies geared towards energizing short-term rentals, which have proven successful.
Primarily due to the improved performance in short-term rentals, the group recorded 94 million dollars in profit before taxation for the quarter, compared to 78 million for the corresponding period last year.
Profit per stock unit for the nine months also resulted in a 12 per cent increase from 58 cents to 65 cents over the nine-month period.