Highlights
Highlights
Continued growth
in our key metrics
| Financial metrics | Six months ended 30 September 2016 |
Six months ended 30 September 2015 |
% |
|---|---|---|---|
| Revenue | £54.8 million | £50.2 million | 9 |
| Like-for-like Revenue (1) | £53.8 million | £50.2 million | 7 |
| Store EBITDA (2) | £36.9 million | £33.1 million | 11 |
| Adjusted profit before tax(3) | £27.0 million | £23.9 million | 13 |
| Adjusted EPRA diluted earnings per share (4) | 16.9 pence | 15.1 pence | 12 |
| Interim dividend per share | 13.5 pence | 12.1 pence | 12 |
| Cash flow from operating activities (after finance costs) (5) | £28.9 million | £26.3 million | 10 |
| Store metrics | |||
| Occupancy growth – all stores (sq ft) (2) | 210,000 | 200,000 | 5 |
| Occupancy – like-for-like stores(1,2) | 79.0% | 76.7% | 3 |
| Like-for-like average net rent per sq ft(1,2) | £26.15 | £25.43 | 3 |
| Statutory metrics | |||
| Profit before tax | £57.7 million | £59.6 million | (3) |
| Basic earnings per share | 36.7 pence | 38.2 pence | (4) |
1Like-for-like metrics exclude Cambridge, Nine Elms and Twickenham; 2 see Portfolio Summary; 3 see note 6; 4 note 8;
5 Cash flow from operating activities (after finance costs) excludes working capital movements – see reconciliation in Financial Review
First Half Highlights
- Good first half with growth in both occupancy and net rent per sq ft
- Strong revenue performance driving EBITDA, earnings and dividend growth
- Adjusted profit before tax up 13% to £27.0 million
- Cash flow from operating activities (after finance costs) increased by 10% to £28.9 million
- 12% increase in interim dividend to 13.5 pence per share
- Acquisition of four store Lock and Leave portfolio in April 2016 for £21 million
- –Nine Elms and Twickenham acquired by Big Yellow
- –Canterbury and West Molesey acquired by Armadillo
