European Self-Storage Operator Less Mess Storage Releases First-Quarter 2015 Financial Results

Less Mess Storage Inc. (LMS), a Canada-based self-storage operator with facilities in Prague and Warsaw, Poland, has released financial results for the quarter that ended March 31, 2015. The report represents the company’s first financial-reporting period without transaction costs, bond interest, amalgamation costs and other temporary expenses associated with the acquisition of its self-storage business in April 2014.

Less Mess Storage Inc. (LMS), a Canada-based self-storage operator with facilities in Prague and Warsaw, Poland, has released financial results for the quarter that ended March 31, 2015. The report represents the company’s first financial-reporting period without transaction costs, bond interest, amalgamation costs and other temporary expenses associated with the acquisition of its self-storage business in April 2014.

LMS reported net income of $407,049 for the quarter, representing earnings of $0.04 per share. It is the company's first reported net income since acquiring its five-facility portfolio, according to a press release.

"We are pleased with these results, which have started to reflect the real underlying financial performance of the business,” said Guy Pinsent, president and CEO. “The steps taken in our first year since the acquisition have created a solid platform from which to grow in the largely untapped self-storage markets of Poland, the Czech Republic and neighboring countries."

Less Mess owns and operates five self-storage properties—four freehold, one leasehold—encompassing more than 180,000 square feet of net rentable space. Though its records office resides in Vancouver, British Columbia, Canada, it also has a headquarters in Warsaw and offices in Prague. Its common shares are listed on the TSX Venture Exchange under the stock symbol "LMS."

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