Profit falls at Safestore, but group confident of hitting annual targets

Safestore Holdings plc

Profit at storage group Safestore has more than halved in the first six months of the financial year, but the group maintained it is still on course to hit targets for the full year.

Pre-tax profit fell 53% to £38.2m in the half-year to the end of April, off the back of a 5.6% rise in revenue to £73.1m. The fall was put down to reduced gain on investment properties of £7.9m, compared to £51.8m after the same period in 2018.

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