Safestore release FY results for 2008
February 2009 - British self-storage retailer Safestore on Tuesday said it was coping with the housing slowdown as it reported growing annual earnings and said it was well positioned to withstand the economic downturn.
British self-storage retailer Safestore on Tuesday said it was coping with the housing slowdown as it reported growing annual earnings and said it was well positioned to withstand the economic downturn.
The company's earnings before exceptional items for the year ended October 2008 increased 10.9 percent to 45.1 million pounds on sales up 11.5 percent at 82.9 million pounds.
The average rate the company charges per square foot rose by 11.6 percent to 24.06 pounds during the year, said the group.
"While Safestore is not immune to the broader economic downturn, the resilience of the company's performance demonstrates its wide cross section of both domestic and business customers and that Safestore is not wholly reliant on the housing market," Chief Executive Steve Williams said in a statement.
LONDON, Jan 19 (Reuters)
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