Big Yellow - trading conditions show an improvement with a pleasing occupancy performance in June
July 2009 - Big Yellow Group Plc, the U.K. self- storage operator that raised about 32.9 million pounds in a share sale in May, said first-quarter store revenue fell 6 percent.
Sales dropped to 13.5 million pounds in the three months ended June 30, from 14.3 million pounds in the same period a year earlier, the Bagshot, U.K.-based company said in a Regulatory News Service statement today.
Occupancy of wholly owned stores in the group fell 2 percent, while occupancy for stores open at least a year declined 8 percent. The self-storage company said it intends to open a further five outlets this fiscal year.
“Following the final statement in May, trading conditions have continued to show an improvement with a pleasing occupancy performance in June,” Chief Executive Officer James Gibson said in the statement. “We anticipate the usual seasonal slowdown in the autumn and continuing cyclical uncertainty but remain more cautiously optimistic.”
Source: Bloomberg
