Big Yellow Group sees declining annual profit but revenue stable
Big Yellow Group PLC on Monday announced annual financial results for the year ended March 31, posting a decline in profit while slightly increasing revenue.
Shares in the Bagshot, England-based self-storage group closed down 0.6% at 829.00 pence each in London on Monday.
Revenue rose 2%, to £209.1 million from £204.5 million the year before.
Pretax profit fell to £126.2 million, down 38% from £203.9 million year-on-year, with the company citing geopolitical crises.
The company offered a dividend for the period of 47.2 pence per share, up 2% from 46.4 pence year-on-year.
Nicholas Vetch, executive chair of Big Yellow, said: ‘This business has again continued to prove to be resilient over the year despite the prevailing external crisis. We recognise that the current operating environment presents considerable challenges...Nonetheless, we believe that we have taken the necessary steps to position the company in as good a place as we can.’
The company referenced the Russian invasion of Ukraine, the US regional banking crisis, the collapse of Credit Suisse, inflation, the Middle East conflict, and US tariffs as contributing to its financial struggles.
Separately, the group announced that Helen Gordon has agreed to act as senior independent non-executive director and will join the board effective June 1, 2027.
Gordon is the chief executive officer of Grainger PLC, a Newcastle upon Tyne, England-based real estate investment trust.
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