Updates

Safestore

August 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Safestore have hit new highs over the month after the self-storage group issued solid interim results for the six months ended April. These showed revenues up 6% to £73.1m and EBITDA (cash profit) rising 6.1% to £41.4m. Encouragingly, NAV per share increased almost 14% to 406p.In spite of stresses in the UK economy self-storage remains a hot spot as more people use them to de-clutter, or for life events such as divorce, moving house and so on. Like-for-like closing occupancy rose 2.2% to 74.3% while average occupancy increased 4% to 4.57 million sq. ft.The group currently has 119 stores in the UK (including 67 in London) and a further 27 in Paris and is still growing organically. In January it acquired a ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Safestore

August 2019

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