Big Yellow Q1 revenues rise on 'efficiencies'

(Sharecast News) - Storage specialist Big Yellow reported a rise in first quarter sales as cost cutting offset a slight fall in occupancy.

Like-for-like revenue rose 2% to £52.m in the three months to June 30, with occupancy down 0.2 percentage points to 79.2%.

The company said it was replacing some departing staff with automation to cut costs in what it called "efficiency initiatives".

"Our investment in solar and energy efficiency measures is anticipated to deliver further reductions in our utilities expenditure, and we plan to deliver a more efficient marketing plan in the current year, it added in a trading statement on Monday.

"These savings will help offset some of the impact of increase in our property rates from the 2026 rating revaluation."

Reporting by Frank Prenesti for Sharecast.com