Safestore (SAFE.L) reported that its first-half profit before income tax increased to 173.7 million pounds from 103.4 million pounds, last year. The Group noted that the increase in statutory profit before tax resulted from the increased gain on investment properties. Earnings per share was 71.5 pence compared to 42.7 pence. Underlying profit before tax declined to 49.0 million pounds from 54.4 million pounds, last year. Adjusted EPRA earnings per share was 21.2 pence compared to 23.7 pence.
For the six months ended 30 April 2024, revenue declined to 109.2 million pounds from 110.1 million pounds, previous year. Group like-for-like revenue in CER was down 0.3%.
Looking forward, the Group expects adjusted EPRA earnings per share for the full year to be in the lower half of the range of consensus estimates.
The Board recommended an interim dividend of 10.0 pence per share.
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