Updates

Safestore

August 2024

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.

Safestore has delivered robust interims with revenues broadly unchanged at £109m and EBITDA down nearly 4% to £67.1m reflecting difficult market conditions in the period. In spite of softer than expected conditions in the UK, the average storage rate was down just 0.5% at £30.16 while underlying closing occupancy fell 1.6% to almost 77%. Encouragingly, free cash flow rose almost 29% to £41m despite bearing a 29% increase in finance charges to £9.7m. Another highlight was the 10% increase in tangible NAV per share to 1003p, helped by six openings year to date as well as properties under construction. The development pipeline consists of a further 30 stores, expected to add 1.5 million sq. ft (18% of the portfolio) and foreca ...

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Pets at Home

YouGov

Safestore - Pays 90p dividends for every £1 invested at IPO; could be next target after LOK (June 2024)

Safestore (March 2022)

Safestore (August 2020)

Safestore (August 2019)

Safestore (April 2019)

Safestore - Self storage firm shows strong growth (August 2018)

Safestore (August 2016)

Safestore - Self storage operator enjoying strong gains in occupancy (April 2016)

Safestore - Property values stabilise (March 2010)

Safestore (October 2009)

Safestore - Shares in self-storage firm offer good value as trading improves (September 2009)

Safestore - NAV rises 44% to 199p (March 2008)

Safestore (October 2007)

Safestore - Under-valued self storage operator (June 2007)

Safestore - Newly listed self-storage company also under-valued (April 2007)

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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