Business
Results for the Six Months ended 30 September 2019
Results for the Six Months ended 30 September 2019.
About this update from Big Yellow Group Plc
[{"type":"text","content":"\n \nRNS Number : 8154T Big Yellow Group PLC 19 November 2019 \n\n \n19 November 2019\n \nBig Yellow Group PLC\n(\"Big Yellow\", \"the Group\" or \"the Company\")\nResults for the Six Months ended 30 September 2019\n \n\n\n\n\n\nFinancial metrics\n\n\nSix months ended \n30 September 2019\n\n\nSix months ended\n30 September 2018\n\n\n\nGrowth\n\n\n\n\nRevenue\n\n\n£64.3 million\n\n\n£62.2 million\n\n\n3.4%\n\n\n\n\nLike-for-like revenue(1) \n\n\n£63.8 million\n\n\n£61.2 million\n\n\n4.2%\n\n\n\n\nStore EBITDA(1)\n\n\n£44.0 million\n\n\n£42.5 million\n\n\n3.5%\n\n\n\n\nAdjusted profit before tax(1)\n\n\n£35.3 million\n\n\n£33.3 million\n\n\n6.0%\n\n\n\n\nEPRA earnings per share(1)\n\n\n21.0 pence\n\n\n20.9 pence\n\n\n0.5%\n\n\n\n\nInterim dividend per share\n\n\n17.1 pence\n\n\n16.7 pence\n\n\n2.4%\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£95.8 million\n\n\n£61.4 million\n\n\n56%\n\n\n\n\nCash flow from operating activities (after net finance costs)\n\n\n£36.0 million\n\n\n£34.6 million\n\n\n4.0%\n\n\n\n\nBasic earnings per share\n\n\n57.6 pence\n\n\n38.8 pence\n\n\n48%\n\n\n\n\nStore metrics\nStore Maximum Lettable Area (\"MLA\")(1)\n\n\n4,688,000\n\n\n4,656,000\n\n\n0.7%\n\n\n\n\nClosing occupancy (sq ft) (1)\n\n\n3,910,000\n\n\n3,904,000\n\n\n0.2%\n\n\n\n\nOccupancy growth in the period (sq ft)(1)\n\n\n100,000\n\n\n174,000\n\n\n(43%)\n\n\n\n\nClosing occupancy(1)\n\n\n83.4%\n\n\n83.8%\n\n\n(0.4 ppts)\n\n\n\n\nOccupancy - like-for-like stores(1)\n\n\n84.1%\n\n\n83.8%\n\n\n0.3 ppts\n\n\n\n\nAverage achieved net rent per sq ft(1)\n\n\n£27.40\n\n\n£26.97\n\n\n1.6%\n\n\n\n\nClosing net rent per sq ft(1)\n\n\n£27.73\n\n\n£27.20\n\n\n1.9%\n\n\n\n\n1 See note 19 for glossary of terms\n \nFirst Half Highlights\n· Like-for-like revenue increased by 4.2% driven by growth in average occupancy and rate \n· Average achieved net rent per sq ft increased by 1.6% period on period, closing net rent up by 1.9% from September 2018, and currently up 3.1% from 1 April 2019\n· Cash flow from operating activities (after net financ...