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(Sharecast News) - Self-storage group Big Yellow said on Thursday that it had witnessed relatively robust trading in the fourth quarter but its preliminary results would likely be delayed until June as a result of Covid-19 lockdown restrictions.
Big Yellow saw increased levels of activity in and out of the business in the last two weeks in March, recording a net overall loss of 23,000 square foot in occupancy during the period.
However, the AIM-listed group also revealed customer move-ins and move-outs had reduced significantly in April and stated it had not yet seen a notable impact on debtors and cash collection.
While April revenue growth to-date was 2.6% Big Yellow stated had seen a "modest" increase in outgoings, principally due to staff travel costs due to the group paying for 57 of its employees to travel privately and sanitising and protective equipment.
However, Big Yellow said this had been more than offset by a reduction of spending on marketing costs, as well as lower interest rates due to a significant number of its debts being on variable rates.
As of 0930 BST, Big Yellow shares were up 0.61% at 996p.
1 Jun 2024 13:58
DIRECTOR DEALINGS: Coca-Cola HBC, M&S and Elementis execs sell shares
(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced this week and not separately reported by Alliance News:
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