IN BRIEF: Safestay says ready for growth in 2024 as bookings rise
7th Jun 2024 12:07
Safestay PLC - London-based hostel operator - Pretax loss widens to GBP722,000 in 2023 from a restated GBP486,000 in 2022. Revenue rises 21% to GBP21.5 million from GBP18.1 million, but cost of sales also increase, as do administrative expenses and finance costs. Adjusted earnings before interest, tax, depreciation and amortisation rises by 15% to GBP6.8 million from GBP5.9 million. Net asset value per share grows 8.7% to 50 pence from 46p. Occupancy improves to 71.4% from 63%. Safestay says forward booking totalled GBP3.7 million at the start of 2024, up from GBP1.9 million a year before. Read More