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Safestore 2021 Underlying Profit Rises; LFL Revenue In CER Up 13.8%

Safestore Holdings plc (SAFE.L) said, in 2021, the Group delivered 34.1% growth in adjusted EPRA earnings per share largely driven by organic growth. Total Group revenue increased by 15.1%, or up 15.5% CER, with an outstanding performance in the UK and continued strength in Paris. On a like-for-like basis in CER, Group revenue increased by 13.8%. The Group noted that the strong performance of the final quarter of 2020/21 has continued into the new financial year with like-for-like Group revenue in CER up 17.3% for the first two months.

For the year ended 31 October 2021, adjusted EPRA earnings per share increased to 40.5 pence from 30.2 pence. Underlying EBITDA increased by 25.7% to 118.0 million pounds.

Statutory profit before tax increased to 404.6 million pounds from 197.9 million pounds, last year. Earnings per share was 176.4 pence compared to 84.0 pence. Fiscal year revenue was 186.8 million pounds, up 15.1% from last year, or 15.5% ahead on a constant currency basis.

The Board recommended a 38.6% increase in the final dividend to 17.6 pence per share, resulting in a full year dividend up 34.9% to 25.1 pence per share. The final dividend will be payable on 7 April 2022 to shareholders on the register at close of business on 4 March 2022.

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