Business
Final Results
Final Results.
About this update from Big Yellow Group Plc
[{"type":"text","content":"\n \nRNS Number : 0631Z Big Yellow Group PLC 24 May 2016 \n\nHighlights\n Big Yellow Group PLC\n(\"Big Yellow\", \"the Group\" or \"the Company\")\n\nResults for the YEAR ended 31 MARCH 2016\n \nSTRONG OPERATING PERFORMANCE DELIVERS 15% EARNINGS GROWTH(2)\n \n\n\n\n\n\nFinancial metrics\n\n\nYear ended \n31 March 2016\n\n\nYear ended\n31 March 2015\n\n\n%\nGrowth\n\n\n\n\nRevenue\n\n\n£101.4m\n\n\n£84.3m\n\n\n20\n\n\n\n\nLike-for-like revenue(1)\n\n\n£87.6m\n\n\n£79.9m\n\n\n10\n\n\n\n\nAdjusted profit before tax(2)\n\n\n£49.0m\n\n\n£39.4m\n\n\n24\n\n\n\n\nAdjusted diluted EPRA earnings per share(3)\n\n\n31.1p\n\n\n27.1p\n\n\n15\n\n\n\n\nDividend - final\n - total\n\n\n12.8p\n24.9p\n\n\n11.3p\n21.7p\n\n\n13\n15\n\n\n\n\nCash flow from operating activities (after net finance costs)\n\n\n£55.5m\n\n\n£42.4m\n\n\n31\n\n\n\n\nStore metrics\nOccupancy growth(4)\n\n\n \n185,000 sq ft\n\n\n \n267,000 sq ft\n\n\n \n(31)\n\n\n\n\nOccupancy - like-for-like stores (%)(4)\n\n\n76.7%\n\n\n73.2%\n\n\n3.5ppts\n\n\n\n\nAverage net achieved rent per sq ft(4)\n\n\n£25.73\n\n\n£25.10\n\n\n3\n\n\n\n\nStatutory metrics\n\n\n \n\n\n \n\n\n \n\n\n\n\nProfit before tax\n\n\n£112.2m\n\n\n£105.2m\n\n\n7\n\n\n\n\nBasic earnings per share\n\n\n71.9p\n\n\n72.5p\n\n\n(1)\n\n\n\n\n1Like-for-like revenue excludes the 12 Partnership stores (acquired December 2014), Chester (acquired January 2015), Enfield (opened April 2015) and Cambridge (opened January 2016), and management fees earned from the Partnership in the prior year. 2See note 10 3Adjusted earnings per share - see note 12 4See Portfolio Summary and Operating and Financial Review \nHighlights\n• Another year of growth in all our key operating metrics \n• Strong revenue performance driving 15% increase in adjusted earnings per share and total dividend\n• Store platform expanded by 282,000 sq ft:\no Two new freehold stores opened at Enfield and Cambridge\no Acquisition of four store Lock and Leave portfolio in April 2016 for £21 million\n- Nine Elms and Twi...