Business
RESULTS FOR THE YEAR ENDED 31 MARCH 2023
RESULTS FOR THE YEAR ENDED 31 MARCH 2023.
About this update from Big Yellow Group Plc
[{"type":"text","content":"\n\n \nBig Yellow Group PLC\n(\"Big Yellow\", \"the Group\" or \"the Company\")\nResults for the YEAR ended 31 MARCH 2023\n \nHIGHLIGHTS\nResilient results against the backdrop of a challenging macroeconomic and geopolitical environment\n\n\n\n\nFinancial metrics\n\n\nYear ended \n31 March 2023\n\n\nYear ended\n31 March 2022\n\n\n \nChange\n\n\n\n\nRevenue\n\n\n£188.8m\n\n\n£171.3m\n\n\n10%\n\n\n\n\nStore revenue(1)\n\n\n£186.7m\n\n\n£169.3m\n\n\n10%\n\n\n\n\nLike-for-like store revenue(1,2)\n\n\n£162.9m\n\n\n£151.8m\n\n\n7%\n\n\n\n\nStore EBITDA(1)\n\n\n£134.0m\n\n\n£120.9m\n\n\n11%\n\n\n\n\nAdjusted profit before tax(1)\n\n\n£106.0m\n\n\n£96.8m\n\n\n10%\n\n\n\n\nEPRA earnings per share(1)\n\n\n56.5p\n\n\n52.5p\n\n\n8%\n\n\n\n\nDividend - final\n - total\n\n\n22.9p\n45.2p\n\n\n21.4p\n42.0p\n\n\n7%\n8%\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£75.3m\n\n\n£698.9m\n\n\n(89%)\n\n\n\n\nCash flow from operating activities (after net finance costs and pre-working capital movements)(3)\n\n\n \n£109.2m\n\n\n \n£99.3m\n\n\n \n10%\n\n\n\n\nBasic earnings per share\n\n\n40.1p\n\n\n385.4p\n\n\n(90%)\n\n\n\n\nStore metrics\n\n\n \n\n\n\n\n\n\n\n\n\n\nStore Maximum Lettable Area (\"MLA\")(1)\n\n\n6,292,000\n\n\n6,098,000\n\n\n3%\n\n\n\n\nClosing occupancy (sq ft)(1)\n\n\n5,088,000\n\n\n5,107,000\n\n\n(0.4%)\n\n\n\n\nClosing occupancy(1)\n\n\n80.9%\n\n\n83.7%\n\n\n(2.8 ppts)\n\n\n\n\nOccupancy - like-for-like stores (%)(1,2)\n\n\n84.0%\n\n\n86.0%\n\n\n(2.0 ppts)\n\n\n\n\nAverage occupancy(1)\n\n\n83.7%\n\n\n86.7%\n\n\n(3.0 ppts)\n\n\n\n\nClosing net rent per sq ft(1)\n\n\n£32.48\n\n\n£29.92\n\n\n9%\n\n\n\n\nLike-for-like average net achieved rent per sq ft(1,2)\n\n\n£33.31\n\n\n£30.35\n\n\n10%\n\n\n\n\nLike-for-like closing net rent per sq ft(1,2)\n\n\n£34.60\n\n\n£31.80\n\n\n9%\n\n\n\n1 See note 28 for glossary of terms\n2 The like-for-like metrics exclude stores opened and acquired in the current and preceding financial years, and the Armadillo stores\n3 See reconciliation in Financial Review\nHighlights\n\n\n\n•\n\n\nRevenue growth of 10%, reflecting new stores and an add...