Safestore Holdings : SAFE – Annual results

Over the year to the end of October 2013 Safestore had to contend with the impact of the imposition of VAT on UK self storage and this, they say, had a knock-on effect on revenues which fell by 2.7%. Earnings per share and EBITDA moved ahead however as borrowing costs fell, occupancy rates in France rose, and UK transaction values grew. Property values rose by 5.7%, bolstered by their sale of their property in Whitechapel.

Safestore is raising money to pay down debt via a placing of new shares.

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