StockMarketWire.com - Storage group Big Yellow said revenue grew just 1.9% in its third fiscal quarter following a fall in occupancy as political and economic uncertainty weighed on performance.

For the third quarter ended 31 December, revenue rose 1.9% to £32.3m and occupancy decreased by 165,000 sq ft compared with a loss of 126,000 sq ft in the same quarter last year.

Like-for-like closing occupancy was 80.7%, a decrease of 0.4% from the same time last year.

The group's average achieved net rent per sq ft increased by 2.9% compared to the same quarter last year.

But following the 'seasonally weaker' third quarter and general election, Big Yellow said activity had picked up.

'Since the start of the fourth quarter we are seeing a pick-up in demand, as represented by enquiries through our digital channels, and growing net reservations. Occupancy has also started to grow from its seasonally low point at the end of December,' it added.




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