| Six months ended 30 April 2017 (£) | Six months ended 30 April 2016 (£) | % change | |
|---|---|---|---|
| Revenue | £57.4m | £53.6m | 7.1 |
| Underlying EBITDA | £31.5m | £28.9m | 9 |
| Closing occupancy (% of MLA) | 71.9% | 70.8% | +1.1ppts |
| Average storage rate | £27.5 | £26.1 | 5.6 |
| Profit before tax | £55m | £49.1m | 12 |
Safestore has delivered a 7.1% increase in operating revenue to £57.4m and a 12% increase in pretax profits to £55m in its half-year results to April 2017.
It said portfolio value had increased by 4.5% since 31 October 2016. Values rose by £27.6m in the UK to £980.3m and by €16.9m in France to €287.8m (£253m).
Chief executive Frederic Vecchioli said: “Safestore has performed well in the first half of the year and continues to build on the strong earnings and dividend growth achieved over the past four years.
“As we enter our peak trading period, we continue to see good levels of interest in self-storage in the UK and increasing momentum in Paris. We are well placed to meet this demand with our 1.7m sq ft of currently unlet, fully invested space.
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