Big Yellow boosts occupancy

Consumer uncertainty may have meant self-storage specialist Big Yellow (BYG) reported weaker-than-expected trading during its fourth quarter, but increased occupancy and average rents resulted in full-year earnings that were in line with expectations. A lower revaluation increase weighed on pre-tax profits, but like-for-like revenue was up 7 per cent, boosting "Store EBITDA" (storage revenues less costs and rent) by 6 per cent to £84.1m.