Safestore like-for-like revenues rise

08:02 14/09/2017
StockMarketWire.com - Safestore saw continuing positive trading across the group in the third quarter with particularly strong momentum in its Paris business.

Group revenues rose to £32.9m - up 12.5% at constant exchange rates - with like-for-like revenues up 3.2% at constant currencies.

The group said UK like-for-like revenues were up 2.3% while in Paris like-for-like revenues rose by 5.7%.4

Chief executive Frederic Vecchioli said: "I am pleased to report continuing positive trading across the group in the third quarter with particularly strong momentum in our Paris business.

"As ever, our top priority remains the significant organic growth opportunity represented by the 1.5m square feet of currently unlet space in our existing fully invested estate.

"Our recent openings in London (Wandsworth and Chiswick), Paris (Emerainville and Combs-la-Ville), Birmingham and Altrincham, are all performing in line or ahead of their business plans as is Space Maker, the twelve-store portfolio acquired in July 2016.

"I am also pleased to announce our new store at Paddington Marble Arch and look forward to its forthcoming opening along with our new store in Mitcham in the next financial year.

"I am confident that our leading market positions in the UK and Paris will enable us to withstand any challenges presented by the current uncertain macro-economic backdrop.

"The company is in a strong position and remains on course to meet the Board's full year expectations."



At 8:02am: (LON:SAFE) Safestore Holdings PLC share price was +5.2p at 413.9p


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