Earnings DeclineThe equity market will retain its negative view of this year's decline in earnings, despite it being well-flagged by the company and analysts.
Market PerceptionEquity markets have often penalised companies with lumpy development contributions, Safestore is beginning to fall into that category.
Revenue DeclineTotal revenue for the year to October was down -0.3% on absolute basis and flat like for like at constant exchange rates, as the 0.2% increase in like for like average rate per sq ft was offset by lower occupancy, down 1% year on year.