“We have had a successful year through a combination of organic and acquisitive growth combined with a strong operational performance. Over the last 18 months our market leading positions in the UK and Paris have been consolidated, supported by the acquisitions of Space Maker and Alligator Self Storage, which added 24 stores to the UK portfolio and boosted earnings from the outset. Organically we have developed and opened six new stores in the UK and Paris, with a pipeline of a further four new stores opening in London, Birmingham and Paris.
 
“The refinancing of our borrowings earlier in the year has resulted in a strengthened, efficient, low cost balance sheet which gives us the flexibility to continue to target selected development and acquisition opportunities.
 
“We enter the new financial year in a strong position with substantial growth potential from the integration of Alligator Self Storage and the development of three new sites. However, our priority and the largest opportunity remains the significant upside from our 1.7m square feet of invested unlet space. We remain confident in the future and focused on the continued delivery of value to all shareholders.”
Frederic Vecchioli, Chief Executive Officer (January 2018)
 
 

Overview

“I am pleased to announce, on behalf of the Board of Safestore, another strong set of results for the year ended 31 October 2017.
 
There has been strong strategic progress over the year. Space Maker, acquired in July 2016, is fully integrated into the Group and the six new stores opened over the last sixteen months are all performing at least in line with their business plans. The acquisition of Alligator, completed on 1 November 2017, will be integrated during the first half of the current financial year and we have a pipeline of four new sites, adding 226,000 sq ft of capacity, opening over the next 18 months.”


 
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