Self-storage provider Safestore said on Tuesday that it had seen continued improvement in UK trading throughout Q4 and strong growth in expansion markets.
Safestore Holdings
26 November 2024 09:59:24
Source: Sharecast
Safestore said total group revenues were up 0.5% during the quarter at £57.9m, with UK revenues down 1.9% at £41.8m, while Paris revenues grew 1.6% to €13.2m and expansion markets revenue improved 35.2% to €6.0m.
The FTSE 250-listed group stated its UK trading performance had continued to improve in Q424 despite the drop in revenues, which it said was driven by a small reduction in rate, together with broadly stable occupancy and growing ancillary sales.
Safestore also noted that it has a total pipeline of 31 developments and extensions opening in FY25 and beyond, which was expected to add a total of 1.6m square feet.
As of 0955 GMT, Safestore shares were down 0.92% at 750.0p.
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