12th Jul 2006 07:01
Big Yellow Group PLC12 July 2006 BIG YELLOW GROUP PLC 12 July 2006 Big Yellow Group PLC Quarterly Trading Update The Board of Big Yellow Group PLC, the self storage company, is pleased toprovide the following update on trading for the quarter ending 30 June 2006. • Turnover for the quarter was £11.6 million - Up 21% from £9.6 million for the same quarter last year - Up 7% from £10.8 million for the quarter to 31 March 2006 • Annualised revenue is now £47.6 million - Up 20% from £39.8 million at the same time last year - Up 10% from £43.4 million at 31 March 2006 • 1,740,000 sq ft occupied at the quarter end - Up 13% from 1,545,000 sq ft at the same time last year - Up 4% from 1,672,000 sq ft occupied at 31 March 2006 • Annual storage price increases put through successfully in May at an average of 4.5% • We today opened a 60,000 sq ft store in South Bristol. We now have 40stores open with a total self storage capacity of 2.39 million sq ft. • In June we acquired a site in Poole, which will provide a further53,000 sq ft of self storage capacity when fully developed and brings to fivethe total number of sites acquired in the quarter • The number of stores open and sites in planning/under development nowtotal 59. Four of the 19 development sites have planning permissions. Thetotal capacity of the 59 stores and sites when fully developed is 3.66 millionsq ft. James Gibson, Chief Executive Officer, commented: "The Group continues to make good progress in revenue growth both like for likeand through new store openings. We now look forward to executing our extensivestore opening programme over the next few years." - Ends - For further information, please contact: Big Yellow Group PLC 01276 477 811Nicholas Vetch, ChairmanJames Gibson, Chief Executive Weber Shandwick Square Mile 020 7067 0700Louise Robson or John MoriartyNotes to Editors Big Yellow Group PLC is one of the leading and most dynamic self-storage groupsin the UK. It was founded in 1998 by Nicholas Vetch, Philip Burks and JamesGibson and listed on AIM in May 2000, moving to the Official List of the LondonStock Exchange in 2002. Big Yellow has expanded rapidly and now operates from 40 stores in London andthe South, and one in Leeds, with a further 19 stores in development and of the59, 48 are held freehold and two long leasehold. All the stores have thedistinct yellow branding, in accessible main road locations, with the majoritybeing within the M25 or in strong urban conurbations. When fully built out theportfolio will provide approximately 3.66 million sq ft of flexible storagespace. At the 30th June 2006, Big Yellow had 29,600 storage customers. The Group has pioneered the development of the latest generation of self-storagefacilities, which utilise state of the art technology and are located in highprofile, main road locations. Its focus on the location and visibility of itsbuildings, coupled with excellent customer service, has created the mostrecognised brand name in the UK self-storage industry. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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