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Trading statements

Safestore reports good Q1 trading momentum

21 February 2017 07:30

Safestore Holdings says trading momentum across the estate in Q1 has been good, and that it is confident of delivering in-line FY earnings.

It added that the good Q1 trading momentum was against a strong comparative period in 2016, with enquiries and new lets at higher levels than in previous years.

"As a result, our revenue performance is tracking well and in line with our guidance for both the UK and Paris," the company said in a trading update.

"We remain confident that the positive market dynamics, company fundamentals and trading momentum will allow us to deliver earnings in line with the Board's expectations for the current financial year."

Q1 like-for-like revenue was £29.2m, up 9.4% from £26.7m, while total revenue was £31.8m, up 17.8% from £27.0m.

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