The Safestore Hldgs Plc Board has announced an interim dividend of 10.0 pence per share, an increase of 1% on the prior period. This will amount to a dividend payment of £21.8m (H1 2023: £21.6m). The dividend will be paid on 8 August 2024 to shareholders who are on the Company's register on 5 July 2024. The ex-dividend date will be 4 July 2024. 25% (H1 2023: 25%) of the dividend will be paid as a REIT Property Income Distribution ("PID").
Other financial highlights:
Group revenue down 0.8% and in CER down 0.3%
H1 2023 revenue included £1.0m of insurance premium tax relating to the sale of customer goods insurance not repeated in 2024. Excluding this, revenue at CER grew 0.7%.
Group like-for-like revenue in CER down 0.3%
Adjusted Diluted EPRA EPS, down 10.5% at 21.2p (H1 2023: 23.7p)
Investment property value increased 5.8%, with net gain of £121.7m (H1 2023: gain of £47.3m)
Strong cash generation with free cash flow increase of 28.5% to £41.0m (H1 2023: £31.9m)
Statutory profit before income tax of £173.7m up from £103.4m in H1 2023
Adjusted Diluted EPRA Earnings per Share for the full year expected to be in the lower half of the range of consensus estimates
