Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Safestay FY trading 'comfortably in line' with market expectations

(Sharecast News) - Safestay said on Monday that full-year trading was set to be "comfortably in line" with market expectations. For the year to the end of December 2023, analysts are expecting revenue of £21.2m and earnings before interest, taxes, depreciation and amortisation of £6.7m.

The AIM-listed company, which owns and operates hostels, said sales are expected to come in at £22.5m, up from £19.1m a year earlier, while occupancy is expected to rise to 71.4% from 63%.

As at 1 January, forward bookings were £3.9m, up from £1.9m.

Chairman Larry Lipman said: "This performance demonstrates that demand for our product has come back stronger than before the pandemic, and represents an opportunity for Safestay to grow in this exciting market.

"Our objective is to further build the business and we are very focused on doing so through a careful mix of organic and acquisition led growth."

Safestay also announced on Monday that it has successfully refinanced its debt with HSBC into a single £16m term loan and added a new £2.5m revolving credit facility "to support future growth plans".

Share this article

Related Sharecast Articles

Tesla lays off 285 workers in Buffalo as job cuts continue
(Sharecast News) - Electric carmaker Tesla is to lay off 14% of its staff across two plants in New York, the company said in a regulatory filing on Thursday, following large-scale job cuts announced earlier in the week.
Blackstone first-quarter earnings narrowly beat forecasts
(Sharecast News) - Blackstone, the world's largest private equity firm, reported marginally better than expected first-quarter earnings on Thursday.
TSMC forecasts jump in second-quarter sales
(Sharecast News) - Taiwan Semiconductor Manufacturing Co said on Thursday it expects sales to jump in the second quarter on strong demand.
Empire Metals completes third phase of drilling at Pitfield
(Sharecast News) - Empire Metals announced the successful conclusion of its third phase of reverse circulation (RC) drilling at the Pitfield Project in Western Australia on Thursday.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.