Safestore Holdings posts 6% rise in Q1 sales on continued strong trading

Writer, Stock Market Wire
Thursday, February 14, 2019 - 08:22

Self-storage provider Safestore Holdings reported a 6% year-on-year increase in first-quarter revenue to £37.2m as the strong trading momentum seen in the second half of 2018 in the UK and Paris markets continued.

Like-for-like occupancy rates were up 3.2 percentage points at 73.5%, with the UK climbing 2.6 percentage points and Paris 6 percentage points.

UK revenue growth of 5.3% reflected store openings in Mitcham and Paddington Marble Arch in 2018, which were both performing well, offset by the closures of Merton, Paddington and Leeds. The Paris business had an even stronger quarter, growing total revenue by 8.3%.

"We are pleased with the start to the 2019 financial year, which is in line with our expectations, and remain confident in the future and focused on the continued delivery of shareholder value." said CEO Frederic Vecchioli.

At 8:22am: (LON:SAFE) Safestore Holdings PLC share price was +1.5p at 575p


Related content

Broker Forecast - HSBC issues a broker note on Safestore Holdings PLC

HSBC today initiates coverage of Safestore Holdings PLC (LON:SAFE) with a buy investment rating and price target of 670p.

Broker Forecasts data provided by ...

Tue, 12/02/2019 - 12:10


Safestore profit more than doubles as sales rise in London, Paris

Storage company Safestore Holdings more than doubled its annual profit, as it boosted sales in both London and Paris and enjoyed a rise in the...

Tue, 08/01/2019 - 07:32


Safestore reports 11% rise in Q4 revenue

Self-storage company Safestore saw group revenue increase over 11% in the fourth quarter of 2018 with both the UK and Paris trading divisions reporting growth....

Thu, 15/11/2018 - 08:18


What Shurgard’s €2.4bn IPO means for UK self-storage plays

Europe’s largest self-storage player Shurgard Self Storage is to float on the Euronext Brussels stock market and raise €575m, with trading in the shares expected...

Thu, 04/10/2018 - 00:00


Safestore revenue, occupancy rates rise in third quarter

Storage space provider Safestore Holdings boosted its revenue by 10.3% in the third quarter on-year, while increasing occupancy rates across its portfolio.

Revenuer rose...

Wed, 12/09/2018 - 07:31