Business
Results for the year ended 31 March 2020
Results for the year ended 31 March 2020.
About this update from Big Yellow Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 3240P\n Big Yellow Group PLC\n 09 June 2020\n \n \n \n \n Big Yellow Group PLC\n \n \n (\"Big Yellow\", \"the Group\" or \"the Company\")\n \n Results for the YEAR ended 31 MARCH 2020\n \n \n \n \n \n \n \n \n \n \n \nFinancial metrics\n \n \n Year ended \n31 March 2020\n \n \n Year ended\n31 March 2019\n \n \n \n Change\n \n \n \n \n Revenue\n \n \n £129.3m\n \n \n £125.4m\n \n \n 3.1%\n \n \n \n \n Like-for-like revenue(1)\n \n \n £128.2m\n \n \n £123.5m\n \n \n 3.8%\n \n \n \n \n Store EBITDA(1)\n \n \n £87.2m\n \n \n £84.1m\n \n \n 3.7%\n \n \n \n \n Adjusted profit before tax(1)\n \n \n £71.0m\n \n \n £67.5m\n \n \n 5.2%\n \n \n \n \n EPRA earnings per share(1)\n \n \n 42.1p\n \n \n 41.4p\n \n \n 1.7%\n \n \n \n \n Dividend - final\n - total\n \n \n 16.7p\n 33.8p\n \n \n 16.5p\n 33.2p\n \n \n 1.2%\n 1.8%\n \n \n \n \n Statutory metrics\n \n \n \n \n \n \n \n \n \n \n \n \n \n Profit before tax\n \n \n £93.4m\n \n \n £126.9m\n \n \n (26%)\n \n \n \n \n Cash flow from operating activities (after net finance costs)\n \n \n £73.6m\n \n \n £72.2m\n \n \n 1.9%\n \n \n \n \n Basic earnings per share\n \n \n 55.8p\n \n \n 78.3p\n \n \n (29%)\n \n \n \n \n Store metrics\n Occupancy change(1)\n \n \n \n (29,000 sq ft)\n \n \n \n 80,000 sq ft\n \n \n \n n/a\n \n \n \n \n Closing occupancy(1)\n \n \n 80.7%\n \n \n 82.4%\n \n \n (1.7 ppts)\n \n \n \n \n Occupancy - like-for-like stores (%)(1)\n \n \n 81.3%\n \n \n 82.4%\n \n \n (1.1 ppts)\n \n \n \n \n Average net achieved rent per sq ft(1)\n \n \n £27.86\n \n \n £27.14\n \n \n 2.7%\n \n \n \n \n Closing net rent per sq ft(1)\n \n \n £28.15\n \n \n £27.28\n \n \n 3.2%\n \n \n \n \n \n \n 1 \n \n See note 28 for glossary of terms\n \n Highlights\n For the year\n \n \n \n \n \n · \n \n \n \n 3.1% revenue increase largely driven by increases in average rate\n \n \n \n \n \n · \n \n \n \n Average rate up 2.7% year-on-year. Like-for-like closing store occupancy 81.3% (2019: 82.4%)\n \n \n \n \n \n · \n \n \n \n Cash flow from operating activities (after net finance costs) increased by 1.9% to £73.6 million\n \n \n \n \n \n · \n \n \n \n Adjusted profit before tax up 5.2% to £71.0 million\n \n \n \n \n \n · \n \n \n \n 1.8% increase in total dividend to 33.8 pence per share\n \n \n \n \n \n · \...