U.K. self-storage company Safestore has released its financial results for the six months ended April 30, 2009, showing growth even in a down economy. The company has increased revenue 3.3 percent, from £40 million to £41.3 million, and expanded its property portfolio.
“It is encouraging that the business has performed well at a time of such economic uncertainty,” said Chief Executive Steve Williams. “The first half has seen an increase in revenue and underlying EBITDA over the same period last year, which has been mainly driven by a solid rental rate and improved occupancy movement performance.”
The second half of the year has gotten off to a good start, with progress being made on rental rate per square foot and occupancy. According to Williams, the company will continue to selectively acquire new sites.