STOCK WATCH

■ SAFESTAY said business is returning to normal after the turmoil caused by Covid.

The hostel chain saw the average price of a bed at its sites rise to £23.70 in 2022 from £19.70 a year earlier.

Occupancy rates across its 16 hostels reached 63pc – up from 35pc in 2021.

As a result, revenues look set to have hit £19m last year. It is also expecting to report a profit of £5.9m having made a £1m loss a year earlier.

Shares jumped 30pc, or 6p, to 26p.