Safestore Q1 revenue up 9.4%

Storage space operator Safestore reported strong revenue growth in its first quarter, driven by a rise in lettable area across its estate.

The company on Tuesday said like-for-like revenue grew 4.2% and total revenue growth of 9.4% in the three months to the end of January.

Like-for-like revenue grew to £52.6m and group revenue hit £55.7m, the company said on Tuesday.

Maximum lettable area surged by 11% to 7.8 million square feet.

Reporting by Frank Prenesti for Sharecast.com