Business
Trading Update
Trading Update.
About this update from Safestore Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 8607S Safestore Holdings plc 13 November 2013 \n \n\n13 November 2013\n \nSafestore Holdings plc\nPre-close trading update for the year ended 31 October 2013\n \nTrading in line, Sale of Whitechapel, Chairman Succession\n\nSafestore Holdings plc (\"Safestore\" or \"the Company\"), a leading self-storage operator in the UK and Paris, is pleased to report on its trading progress (unaudited) for the fourth quarter (\"Q4 2013\") and the year ended 31 October 2013.\nKey Measures\n\n\n\n\n\n\n\n\n\n\n Reported Currency\n\n\nIn CER1\n\n\n\n\n\n\n\n\n\n\n2013\n\n\n20122\n\n\nChange\n\n\nChange\n\n\n\n\n\n\n\n\n\n\n£ million\n\n\n£ million\n\n\n%\n\n\n%\n\n\n\n\nQ4 revenue\n\n\n\n\n\n24.8\n\n\n25.4\n\n\n-2.7%\n\n\n-4.3%\n\n\n\n\nFull Year revenue\n\n\n\n\n\n96.1\n\n\n98.8\n\n\n-2.8%\n\n\n-3.6%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n£\n\n\n£\n\n\n%\n\n\n%\n\n\n\n\nQ4 RevPAF3\n\n\n\n\n\n19.35\n\n\n19.69\n\n\n-1.7%\n\n\n-3.3%\n\n\n\n\n \nHeadlines\n· On course to meet full year expectations and return to growth for 2013/14\n· UK Gross Transaction Value up 8.4% for the year\n· Further progress on strategic initiatives with national accounts now 10% of UK occupancy\n· French business continues to perform well, growing occupancy, rate and revenue\n· Sale of Whitechapel site completed for £41.1m6, £14.6m above book value5\n· Richard Grainger to be succeeded as Chairman by Alan Lewis\nFrederic Vecchioli, Chief Executive Officer commented:\n\"The UK business has now come through the first full year of the imposition of VAT in good shape, demonstrating strong demand and our ability to flex the cost structure to limit the impact on profitability, which remains on-course to meet the Board's full year expectations. Our French business has continued to perform very well throughout the year in a difficult economic climate and I am optimistic that our strong position in the Parisian market will enable this to continue.\n \nAfter two months as Chief Executive, I am pleased to announce the sale of Whitechapel and am confident that the Group is well placed to re...