Big Yellow Announces 1Q Financial Results, Profit Up 7 Percent

U.K. self-storage provider Big Yellow Group reported financial results for the first quarter of 2008, with a 7 percent increase in profit. Revenue of the 32-facility portfolio for 1Q was £14.5 million, up from £13.5 million a year earlier. The average rental rate per square foot increased 9 percent. Average occupancy of all stores dropped to 1.81 million square feet from 1.82 million in the same quarter of 2007. For more information, visit www.bigyellow.co.uk.