IN BRIEF: Safestay interim revenue down amid challenging environment

Safestay PLC - London-based hostel operator - Announces swing to pretax profit of GBP591,000 in the first half of 2025, from a loss of GBP113,000 a year ago. Revenue falls 5.7% to GBP10.1 million from GBP10.7 million. Notably, Safestay reports other operating income of GBP1.2 million in the first half of 2025, compared to none a year prior. Cost of sales decreased to GBP1.5 million from GBP1.7 million, while administrative expenses increased to GBP7.8 million from GBP7.5 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%

By Tom Budszus, Alliance News slot editor

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