Abacus Storage King doubles full-year profit amid takeover interest
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The news: Self-storage operator Abacus Storage King reported full-year statutory net profit of $289 million, more than doubling its result from the previous year, amid takeover interest from South Africa’s Ki Corporation and US-listed Public Storage.
The numbers: Abacus reported a 109% increase in statutory net profit, up from $138.2 million in FY24. Funds from operations (FFO) were up 4.7% year on year to $85 million, while distribution per security (DPS) rose 3.3% to 6.2 cents.
The company provided distribution guidance of 6.2 cents per security for FY26, which would be flat year on year.
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