The UK’s leader in self storage the Big Yellow Company PLC announces a strong revenue growth in the year ended March 31 against a “backdrop of slower economic activity compared to the prior year”
The FTSE 250 company posted revenue of £101.4M for the year, a 20% increase from the previous year of £84.3m alongside a like-for-like revenue increase of 10% to £87.6m from £79.9m
Alongside its increase in revenue, Big Yellow PLC increased its final dividend by 13% from 11.3p per share up to 12.80p per share meaning its total dividend for the year to 24.9p a 15% growth from the previous year which stood at 21.7p
The statutory metrics show that Big Yellow’s profit before tax grew 7% from £105.2m to £112.2m. Occupancy growth has increased from 267,000 square feet the previous year projected by 185,000 square feet.
The Company’s like-for-like basis was up by a 3.5 percentage points from the previous year at 76.7% from 73.2%
The Big Yellow said that its objectives it to achieve a 85% Occupancy across its next porfolio.
Executive Chairman Nicholas Vetch said:
“Against a backdrop of slower economic activity compared to the prior year, we are pleased to have delivered another year of occupancy, revenue and earnings growth. We will continue to innovate, by improving our digital platform and operations to grow our market share and leverage our market leading brand. In addition, our focus will remain on London and the South East and large regional cities where barriers to entry are at their highest, and supply remains very constrained,”
