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Storage

Big Yellow Results for the Year Ended 31st March

19th May 2015

UK self storage operator Big Yellow post very pleasing results for their latest year end figures: 
 
Nicholas Vetch, Executive Chairman of Big Yellow, commenting said:
 
"We are pleased to report very strong results, with demand growth across our network reflecting improved economic
growth not just in London, but within the UK as a whole. To deliver this performance we continue to innovate and
maintain an unerring focus on all aspects of our business, such that we grow our market share and monetise the
strength of our brand.
 
We make no attempt to judge the economic cycle as it is a fruitless task and never more than now. We have now
positioned the Group for the long-term so that we can enjoy the benefits of a strong economy and also adequately
accommodate any reverses.
 
The most important contribution to performance will be growing the occupancy and increasing rental rates in the
existing platform of stores. In addition, there is scope to add more stores but the availability of land, and competition
for it, makes this challenging. That said, there will be opportunities and we are well positioned to exploit them.
The objective is very simple; to grow earnings and dividend at a compelling, but sustainable rate over a long period of
time, without taking undue risk.” 
 
To download the report click here