24th Sep 2020 14:43
Safestay PLC - hostels operator based in London - For first half of 2020 posts pretax loss of GBP4.7 million, widening significantly from GBP904,000 the year prior. Revenue falls 58% year-on-year to GBP3.4 million from GBP8.1 million on hostel closures amid Covid-19 pandemic. Currently all properties are open except London Kensington Holland Park hostel and Barcelona Gothic. Occupancy levels are still relatively low but trend is upwards. Cash as at June end is GBP11,000, down from GBP8.3 million the year prior.
Current stock price: 13.30 pence
Year-to-date change: down 59%
By Ife Taiwo; [email protected]
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