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Big Yellow Group Q1 Revenue Up 28% - Quick Facts

Big Yellow Group plc. (BYG.L), in its update on trading for the first quarter ended 30 June 2015, said that revenue for the quarter rose 28% to 24.1 million pounds from 18.9 million pounds in the prior year.

Like-for-like Revenue for the quarter grew 10% to 20.7 million pounds from 18.9 million pounds in the previous year. Like-for-like revenue excludes the 12 Partnership stores (acquired December 2014), Oxford 2 (acquired July 2014), Chester (acquired January 2015) and Enfield (opened April 2015).

The 70 stores increased occupancy over the quarter by 146,000 sq ft (3.3% of the MLA at 30 June 2015) compared to a gain of 187,000 sq ft in the same quarter last year (4.4% of the MLA at 30 June 2014). The number of move-ins was up 1% on the quarter to 30 June 2014.

James Gibson, Chief Executive Officer, said, "We have grown occupancy in our like-for-like stores by 3.1 percentage points over the quarter. The first quarter is historically our strongest, but we would expect to deliver further occupancy gains in the second quarter, in line with our guidance of 3 to 4 percentage points of like-for-like occupancy growth over the course of the financial year."

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