Self-storage space provider
Three new stores opened in the year to
“The structural need for self-storage is now firmly embedded and so, put simply, we are building more of it focussed on our core areas of
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“This increase in capacity, combined with the cash flow growth we can derive from our existing portfolio, given its increased pricing power, will drive performance over the next few years.”
Thanks to solid investment revaluations, the group’s statutory profit before tax surged 185 per cent to £265.8m.
This morning, Big Yellow’s share price edged 0.69 per cent higher to a share price of 1,323.00.
The group, which operates across
Meanwhile, revenue lifted slightly by 4.6 per cent to £135.2m which was pushed by increase in average occupancy as restrictions began to be eased.
“Risks remain and therefore, as always, we remain cautious. There are, however, reasonable grounds to have confidence in our business model having navigated two external crises of considerable proportion since the Global Financial Crisis,” Vetch continued, as storage spaces approach the group’s target of 90 per cent occupancy.
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© City AM, source