Safestay PLC - London-based hostel operator - Announces swing to pretax profit of £591,000 in the first half of 2025, from a loss of £113,000 a year ago. Revenue falls 5.7% to £10.1 million from £10.7 million. Notably, Safestay reports other operating income of £1.2 million in the first half of 2025, compared to none a year prior. Cost of sales decreased to £1.5 million from £1.7 million, while administrative expenses increased to £7.8 million from £7.5 million. The company says during the first half it ‘delivered further strategic progress and a resilient financial performance, despite the challenging trading environment which impacted pricing and demand across the European hostels market.’
Chair Larry Lipman says: ‘Looking ahead, our ambition is to deliver sustainable growth and to crystallise value for shareholders, whilst over the medium-term growing the portfolio. With a proven model, well-invested systems and technology, a clear strategy, and a strong pipeline of opportunities, we are confident in our ability to deliver sustainable expansion.’
Current stock price: 20.00 pence each, down 11% on Tuesday morning in London
12-month change: down 25%
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