LONDON (Alliance News) - Self-storage company Safestore Holdings PLC
Thursday delivered a higher profit for its last financial year, buoyed
by revenue growth and improvements in occupancy.
Safestore reported a pretax profit of GBP52.4 million for the year to end-October, up from GBP48.6 million the year before, helped by a 1.9% increase in revenue to GBP97.9 million from GBP96.1 million. Like-for-like revenue was up 3.4%.
The group had said back in November that revenue growth was continuing to accelerate and it was expecting its cash tax earnings per share for the full year to be slightly above market expectations as it also focused on cost control and cash management.
"The revenue performance has strengthened throughout the year and, combined with our continued focus on cost control and cash management, has resulted in cash tax adjusted earnings per share being ahead of consensus [of 13.0 pence] for the full year," said Chief Executive Frederic Vecchioli in the company's statement Thursday, having reported earnings per share on the same basis of 23.2 pence.
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Safestore reported a pretax profit of GBP52.4 million for the year to end-October, up from GBP48.6 million the year before, helped by a 1.9% increase in revenue to GBP97.9 million from GBP96.1 million. Like-for-like revenue was up 3.4%.
The group had said back in November that revenue growth was continuing to accelerate and it was expecting its cash tax earnings per share for the full year to be slightly above market expectations as it also focused on cost control and cash management.
"The revenue performance has strengthened throughout the year and, combined with our continued focus on cost control and cash management, has resulted in cash tax adjusted earnings per share being ahead of consensus [of 13.0 pence] for the full year," said Chief Executive Frederic Vecchioli in the company's statement Thursday, having reported earnings per share on the same basis of 23.2 pence.
Read more Click here / www.trade4x.net
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