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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Safestore - NAV rises 44% to 199p

March 2008

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.

  • Epic Code:
  • SAFE
  • Price:
  • 153p
Flying in the face of negative sentiment, self-storage operatorSafestore announced a very respectable set of results for the yearended 31 October. Revenues rose 16% to £74.3m, while EBITDA beforeexceptional gains on property re-valuations rose 22% to £40.7m, drivenby an improvement in EBITDA margins from 52% to 54.8%. Encouragingly,Safestore’s property portfolio enjoyed an uplift in value of 24% to£584m and this resulted in profit after tax including revaluation gainsrising 73% to £78.2m, while net asset value rose almost 44% to 199p,10% ahead of broker estimates. Part of its growth came thanks to the opening of six new stores,plus two satellite stores taking the total to 103 stores (83 UK, 20 inParis). This momentum looks s ...

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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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