Safestay eyes further expansion after record revenue in 2024
3rd Feb 2025 13:37
(Alliance News) - Safestay PLC said its revenue hit a record high in 2024 as occupancy increased and its portfolio expanded against cost-of-living pressures. Read More
(Alliance News) - Safestay PLC said its revenue hit a record high in 2024 as occupancy increased and its portfolio expanded against cost-of-living pressures. Read More
Safestay PLC - operates hostels in nations including the UK, Germany, Spain, Italy and Portugal - Says revenue for the first half of 2024 increased 6.6% to GBP10.7 million from GBP10.0 million the year before. Pretax loss totals GBP113,000 compared with the prior year's GBP947,000 loss. Occupancy rate rises to 70.6% from 69.8%, nearing the pre-pandemic 71.1% reached in the second half of 2019. Bed nights sold increase 6.0% to 412,442 from 389,124, 42.3% of which was booked through "more profitable direct and non-commissionable channels" compared with 26.9% last year. Net asset value is 49.8p per share at June 30, up 17% from 42.3p one year prior, "reflecting the strength of the group's portfolio". Company says "strong momentum has continued" into the third quarter, "with sales to the end of August significantly ahead of last year". Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday. Read More
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
Safestay PLC - London-based city centre hostels operator - Buys Hotel Lineros in Cordoba, Spain for EUR2 million in cash, from sellers Antonio Molera, Carmen Gude, and A. Medina Molera SLU. "Under the Safestay brand the site will be converted into a 100 bed hostel," with the conversion starting on Wednesday, the company says. Safestay anticipates that in the eight months to December 31, the property will generate revenue of about EUR230,000 and earnings before interest, tax, depreciation and amortisation of EUR40,000. Read More
(Alliance News) - Safestay PLC on Wednesday celebrated a management contract for an independent hostel in Spain for an initial 20-year term. Read More
(Alliance News) - Safestay PLC on Monday said its annual trading was "comfortably" in line with market expectations. Read More
(Alliance News) - Safestay PLC on Monday said that it has bought a freehold property in the centre of Edinburgh, which previously operated as a hostel, for GBP4.3 million. Read More
(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Safestay PLC on Friday said that it had swung to a loss but revenue was up, noting it was beginning to return to pre-Covid-19 levels. Read More
(Alliance News) - Stocks in London were largely higher at the close on Tuesday, though the FTSE 100 was pulled into the red by poorly received results from online grocer Ocado and chemicals firm Croda International. Read More
Safestay plc - city centre hostels operator - Says annual revenue in 2022 will come in ahead of market expectations at GBP19.0 million, multiplying from GBP6.4 million in 2021. Adjusted earnings before interest, tax, depreciation and amortisation are expected to be in line with market expectations at GBP5.9 million, swinging from a GBP1.0 million loss. Says business is "returning to normal" with guests being predominantly young travellers, as group bookings are seeing a slower recovery. Average bed rate increases to GBP23.70 from GBP19.70, which should be "sustainable", firm says. Read More
(Alliance News) - Stock prices in London were mostly lower at midday on Tuesday, as investors wait to hear whether UK Prime Minister Rishi Sunak has been able to win support for his Northern Irish border deal with the EU. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More