Safestore Holdings PLC, a self-storage company with facilities in the United Kingdom and Paris, released its half-year financial results for the six months ending April 20. Highlights include:
- Revenue is up 7.3 percent to £45.5 million ($64.7 million)
- Adjusted earnings per share are up 7.6 percent
- Average self-storage rental rate is up 3.2 percent to £26.33 ($37.44) per square foot compared to the same time last year
- Occupancy increased to 59 percent of maximum lettable area, an increase of 3 percentage points
We are pleased to report a good performance for the first half of the year, demonstrating the resilience and strength of our operating model, said CEO Peter Gowers. Safestore has significant scale, a comprehensive customer offer for both personal and business customers and geographic diversity through its store network in the United Kingdom and France.
Safestore operates about 118 self-storage facilities, 22 of which are in Paris. With nearly 41,000 customers, the company employs approximately 500 people. Excluding the 12 Space Maker facilities under its management, Safestore boasts 5.2 million rentable square feet of storage, including 10 expansion pipeline stores.