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Safestore H1 Pretax Profit Rises; LFL Revenue Up 5.9% - Quick Facts

Safestore Holdings plc (SAFE.L) reported profit before tax of 99.7 million pounds for the 6 months ended 30 April 2020 compared to 38.2 million pounds, previous year, driven by increased gain on investment properties. Earnings per share was 42.4 pence compared to 16.4 pence. Group underlying EBITDA was 45.9 million pounds, increased 11.4% at CER on the prior year and 10.9% on a reported basis. Adjusted EPRA earnings per share (pro forma) was 14.5 pence compared to 13.5 pence.

First half revenue increased to 79.3 million pounds from 73.1 million pounds, previous year. Reported Group revenue increased 9.0% at CER with like-for-like revenue growing by 5.9%. The Group's like-for-like average occupancy grew by 3.7%.

The Board recommended a 7.3% increase in the interim dividend to 5.9 pence per share.

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