LONDON (dpa-AFX) - Big Yellow Group PLC (BYG.L) reported third quarter total revenue of 45.2 million pounds compared to 34.7 million pounds, prior year. The Group said the total revenue increase of 30% includes the increasing impact of four recent Big Yellow store openings and a full quarter's contribution from the Armadillo stores. Like-for-like store revenue increased by 13% in the quarter.
Third quarter occupancy across all 104 stores decreased by 245,000 sq ft compared to a loss of 21,000 sq ft, last year. Closing occupancy for all stores was 85.5%, an increase of 2.9 ppts from 82.6% last year. Like-for-like closing occupancy was 86.9%, an increase of 1.5 ppts.
James Gibson, CEO, said: 'The occupancy performance this quarter has been more in line with 2019 and is a return to our more normal seasonal trading patterns. Although it is early in the fourth quarter, we are seeing a return to growth in net reservations and occupancy.'
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX