| Item | % rise from H2 2014 |
|---|---|
| Revenue | 7.5 |
| Occupancy rate | 3.4 |
| Earnings per share | 27 |
| Rates charged | 7.5 |
Safestore has expanded its store portfolio and increased its lease lengths, helping to raise the company’s revenues by 7.5% to £50.4m for the half year to the end of April 2015.
The self-storage business has taken a store in High Wycombe and agreed five leasehold extensions.
The company’s occupancy rate was up by 3.4%, as were the rates it charged, up by 7.5%.
The company will continue to improve its stores and is implementing a full refurbishment of its facility in Wandsworth and the flagship Birmingham store.
The company is also looking to expand its store portfolio over the year, according to chief executive Frederic Vecchioli.
The company’s current loan to value around 35% with an interest cover of 3.9 times.
Earnings per share at the group rose 27% to 28.8p.
