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Trading statements

Safestore improves Q4, FY revenue

17 November 2016 07:40

Safestore has improved its Q4 revenue to £32.8m, from £27.7m, with FY revenue up at £115.4m, from £104.8m. They were also up on a like-for-like basis.

CEO Frederic Vecchioli commented:

"The Group has had a strong financial year, consolidating the improvements made to its operating performance over the last three years.

"We have also strengthened our market leading positions in the UK and Paris with the acquisition of Space Maker and the opening of five new stores around the end of the financial year.

"As a result, we expect that our full year Cash Tax Adjusted Earnings per Share will be at the top end of the consensus range. "As we enter the new financial year, we remain focused on the significant opportunity represented by our 1.6m square feet of currently unlet space.

"In addition, our balance sheet capacity and flexibility allows us to continue to seek selected development and acquisition opportunities."

Safestore will be issuing its Preliminary Results for the year ended 31 October 2016 on Monday, 9 January 2017.

Story provided by StockMarketWire.com

Related Company: SAFE

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