LONDON (dpa-AFX) - Big Yellow Group Plc (BYG.L), a British self storage firm, said on Thursday that it posted a rise in revenue for the third-quarter and year-to-date period to December 31, 2022.
While occupancy of stores decreased for the quarter, rent per square feet showed an increase.
For the December quarter, the company posted a revenue of 48.1 million pounds, higher than 45.2 million pounds reported for the same period a year ago. Like-for-like store revenue for the quarter stood at 41.5 million pounds, compared with 39.3 million pounds of last year quarter.
Revenue for the year-to-date period was at 142 million pounds as against 127 million pounds of 2021.
Like-for-like store revenue for the same period moved up to 122.8 million pounds from 114.4 million pounds of previous year quarter.
Jim Gibson, CEO of the Group, said: '.The fourth quarter last year was impacted by the Russian invasion of Ukraine in February leading to weaker occupancy growth than we would have expected. Although it is early in the current fourth quarter, we are seeing a return to growth in net reservations and occupancy. We now move into our seasonally stronger spring and summer trading period.'
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