Storage site owner Safestore Holdings PLC (LON:SAFE) got a lift from its new openings in Paris, Birmingham and Peterborough in its latest quarter.
Like-for-like sales rose by 5.9% to £39mln on a like-for-like basis and by 7.3% actual.
Occupancy rates also edged up slightly.
Frederic Vecchioli, said the current year has started well in its core of the UK and Paris while recent acquisitions in London, Barcelona and the Netherlands joint venture were either ahead or on track with the business plans.
"Our priority, and largest opportunity, remains the significant upside from filling the 1.7m square feet of fully invested currently unlet space in our UK, Paris and Barcelona markets.
“We remain confident in the future and our strong start to the year means the company is on course to meet the board's full year expectations."
Broker Liberum said it was a solid set of numbers but kept its rating at ‘hold’ due to the strong performance of the share price recently.
“While OMB/Fort Box are accretive in the current year, interest charges will be higher on higher debt levels and we expect FX headwinds in FY20 if current rates prevail,” said the broker.
“Given the share price re-rating of late, and slower relative growth expectations going forward.”
Shares rose a touch to 811p