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Trading statements

Big Yellow like-for-like revenues up

20 July 2017 07:36

Big Yellow Group's first quarter like-for-like revenue increased by 5% to £27.3m.

The 73 Big Yellow stores increased occupancy over the quarter by 183,000 sq ft (4 ppts of the MLA) resulting in a closing occupancy of 82.0%.

Enquiries for storage quotes were broadly in line with the same quarter last year, however with improved conversion rates, move-ins increased by 4% compared to the same quarter last year.

The group said there was less churn in the business resulting in move-outs being down by 4% compared to the corresponding quarter last year.

It said the combination of these factors drove the improved occupancy performance over the quarter.

Story provided by StockMarketWire.com

Related Company: BYG

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