Safestore piles up revenues
Safestore Holdings has reported rising revenues on the back of a record quarter for occupancy levels.
Shares in Britain's largest storage group surged more than 11%, up 12.75p to 122p as third-quarter revenues rose 9% to £22.9m, with the average rental rate up 3.5% to £25.17.
In the first nine months of the year, occupancy growth was a record 206,000 sq ft, 86% higher than in the comparable period of 2009.
Chief executive Steve Williams said the firm had reaped the benefit of being spread throughout the UK and said he expects continuing rental rate growth in the traditionally difficult fourth quarter.
Most watched Money videos
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Blue Whale fund manager on the best of the Magnificent 7
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- How to invest for income and growth: SAINTS' James Dow
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Mini celebrates the release of brand new all-electric car Mini Aceman
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- Mail Online takes a tour of Gatwick's modern EV charging station
- Mercedes has finally unveiled its new electric G-Class
- Don't ditch name and shame plan - it has the City running...
- Are you a Wetherspoon lover or hater? LEE BOYCE and SIMON...
- Banks should be forced to disclose why they debank small...
- Air Mauritius lost my luggage and it ruined my holiday:...
- Millions kept in the dark over City watchdog's mystery...
- TSB to close one in six branches: More than 6,000 shut by...
- Spring property bounce is a damp squib - Rics estate...
- ITV hit by Hollywood strikes as it pins hopes on Euros...
- Hedge fund tycoon's £34m silver salvage claim sunk at the...
- Snoop Dogg cannabis firm to ditch London after losing 97%...
- Minis new electric Cooper SE tested: Can BMW harness the...
- MARKET REPORT: IAG leads Footsie higher as airline shares...
- BAE Systems tools-up for growth as Britain plots defence...
- Brewdog founder James Watt steps down to become 'captain'...
- Tesco uses AI to give millions of Clubcard holders...
- Events planner Informa hikes share buyback scheme to £500m
- Ford boss says it may restrict petrol models in the UK to...
- Oil industry engineer Wood Group rejects £1.4bn Dubai...