Profits fall at UNITE

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Pre-tax profits have tumbled at student accommodation specialist The UNITE Group.

Unite employs 44 people in Sheffield and has eight properties in the city, housing 3,708 students.

Recurring profits from operations rose from £4 million in 2010 to £11 million for the year to the end of December, but pre-tax profits were down from £24.2 million in 2010 to £4.7 million.

Chief executive Mark Allan said last year had been a strong year for UNITE, adding that the company’s decision to close its modular manufacturing unit at a cost of up to £21 million left the business more focused, while its forward development pipeline and investment in the firm’s operating platform had laid the foundations for further growth.

Sheffield-based Venuemasters is celebrating attracting a record number of exhibitors to its 2012 Academic Venue Show, which takes place in May at the Emirates Stadium in London.