Business
Results for the Six Months ended 30 September 2017
Results for the Six Months ended 30 September 2017.
About this update from Big Yellow Group Plc
[{"type":"text","content":"\n \nRNS Number : 0076X Big Yellow Group PLC 21 November 2017 \n \n\n \n \n \n \n \n \n \n \n21 November 2017\nBig Yellow Group PLC\n(\"Big Yellow\", \"the Group\" or \"the Company\")\nResults for the Six Months ended 30 September 2017\n \nStrong performance driven by occupancy growth \n \n\n\n\n\n\nFinancial metrics\n\n\nSix months ended \n30 September 2017\n\n\nSix months ended\n30 September 2016\n\n\n\n%\n\n\n\n\nRevenue\n\n\n£58.1 million\n\n\n£54.8 million\n\n\n6\n\n\n\n\nLike-for-like Revenue(1) \n\n\n£57.1 million\n\n\n£54.0 million\n\n\n6\n\n\n\n\nStore EBITDA(2)\n\n\n£39.7 million\n\n\n£36.9 million\n\n\n8\n\n\n\n\nAdjusted profit before tax(3)\n\n\n£30.6 million\n\n\n£27.0 million\n\n\n13\n\n\n\n\nAdjusted EPRA diluted earnings per share(4)\n\n\n19.1 pence\n\n\n16.9 pence\n\n\n13\n\n\n\n\nInterim dividend per share\n\n\n15.3 pence\n\n\n13.5 pence\n\n\n13\n\n\n\n\nCash flow from operating activities (after finance costs)(5)\n\n\n£32.5 million\n\n\n£28.9 million\n\n\n12\n\n\n\n\nStore metrics\nOccupancy growth (sq ft)(2)\n\n\n \n265,000\n\n\n \n134,000\n\n\n98\n\n\n\n\nClosing occupancy (% of MLA)\n\n\n83.8%\n\n\n78.5%\n\n\n5.3 ppts\n\n\n\n\nAverage achieved net rent per sq ft(2)\n\n\n£26.02\n\n\n£26.05\n\n\n-\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£78.7 million\n\n\n£57.7 million\n\n\n36\n\n\n\n\nBasic earnings per share\n\n\n50.0 pence\n\n\n36.7 pence\n\n\n36\n\n\n\n\n1 Like-for-like revenue exclude Nine Elms and Twickenham 2, which were acquired in April 2016. 2 see Portfolio Summary; 3 see note 6; 4 see note 8 5 Cash flow from operating activities (after finance costs) excludes working capital movements - see reconciliation in Business and Financial Review \n \nFirst Half Highlights\n \n· Strong occupancy performance driving 6% revenue growth\n· Average rate flat period on period; closing net rent up 1% from 31 March 2017\n· Continued growth in EBITDA, adjusted earnings and dividend \n· Cash flow from operating activities (after finance costs and before working capital movements) increased by 12% to £32.5 million\n·&...