Big Yellow Group PLC
Annual Report and Accounts 2017

HIGHLIGHTS OF THE YEAR

Our Highlights

CONTINUED GROWTH IN OUR KEY OPERATING METRICS.

Financial Highlights

Financial metrics Year ended
31 March
2017
Year ended
31 March
2016
%
Growth
Revenue £109.1m £101.4m 8
Like-for-like revenue(1) £107.3m £101.4m 6
Adjusted profit before tax(2) £54.6m £49.0m 11
Adjusted diluted EPRA earnings per share(3) 34.5p 31.1p 11
Dividend – final 14.1p 12.8p 10
  – total 27.6p 24.9p 11
Free cash flow (after net finance costs and pre working capital)(5) £58.3m £53.3m 10
Store metrics      
Occupancy growth(4) 188,000 sq ft 185,000 sq ft 2
Occupancy – like-for-like stores (%)(1,4) 78.1% 75.3% 2.8 ppts
Average net achieved rent per sq ft(4) £26.16 £25.73 2
Statutory metrics      
Profit before tax £99.8m £112.2m (11)
Cash flow from operating activities (after net finance costs) £56.0m £55.5m 1
Basic earnings per share 63.6p 71.9p (12)
(1)
Like-for-like metrics exclude Nine Elms and Twickenham 2 (acquired April 2016).
(2)
See note 10.
(3)
See note 12.
(4)
See Portfolio Summary and Operating and Financial Review.
(5)
See reconciliation in Financial Review.

Continued Growth

  • Like-for-like occupancy increased by 2.8 ppts to 78.1%
  • 11% increase in adjusted earnings per share and total dividend
  • Free cash flow (after net finance costs and pre working capital movements5) up 10% to £58.3 million
  • Acquisition of four store Lock and Leave portfolio in April 2016 for £21 million
    • Nine Elms and Twickenham acquired by Big Yellow (combined MLA of 87,000 sq ft)
    • Canterbury and West Molesey acquired by Armadillo (combined MLA of 65,000 sq ft)
  • Acquisition by Armadillo of three stores from the Quickstore portfolio (Exeter, Plymouth and Torquay, combined MLA 92,000 sq ft) in April 2017
    for £4.75 million
  • Acquisition in May 2017 of prime London site on the Highway in Wapping, just east of the City, for future redevelopment

THE MARKET LEADING BRAND, WITH THE LARGEST ONLINE MARKET SHARE.

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