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Safestore reports surge in profit

By BFN News | 09:26 AM | Thursday 14 January, 2021


Self-storage company Safestore saw group revenue for the year ending 31 October rise 6.9% to £162.3 million. The company reported profits of £197.9 million, up 34.4% from £147.3 million the previous year. The UK business has shown strong momentum, growing like-for-like occupancy by 4.2ppts to 81.0% at the end of the year. The final dividend rose 5.8% to 12.7 pence, giving a total for the year of 18.6 pence. Chief Executive Frederic Vecchioli said: 'We believe the resilient characteristics of the self storage industry, together with our leading market positions across the UK and Paris, place the business in a strong position to withstand the economic uncertainty arising from Covid-19. 'Safestore's increasing scale allows us to invest in our digital marketing platforms and service proposition, and this remains a key competitive advantage in a fragmented industry.? At 9:26am: (LON:SAFE) Safestore Holdings PLC share price was 0p at 808p Story provided by StockMarketWire.com

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