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Trading statements

Shaftesbury reports increased trading volumes

10 February 2017 09:33

Shaftesbury reports good footfall and increased trading volumes across its locations over the traditionally busy festive period, and into January.

"Although longer-term political uncertainties continue, in recent months, confidence in the medium term prospects for the UK economy has stabilised and domestic consumer spending has been resilient," the company said.

It added that the West End, with its added advantage of world-class visitor attractions and an unrivalled choice of restaurants, cafes, bars and shops, continued to attract ever-growing numbers of international visitors.

These visitors were benefitting from advantageous currency exchange rates.

"These factors have contributed to good footfall and increased trading volumes across our locations over the traditionally busy festive period, and into January," said Shaftesbury in a statement.

With its exceptional visitor economy and diverse employment base, the long-term outlook for footfall and spending in the West End was positive, and underpinned continuing good demand for accommodation in the company's carefully curated, popular locations.

"Throughout the period, vacancy rates in our portfolio have remained low, available space has attracted considerable interest and leasing activity has continued to meet our expectations," said Shaftesbury.

At 9:33am: (LON:SHB) Shaftesbury share price was -3.25p at 892.75p

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