Big Yellow Occupancy Slips

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Self-storage group Big Yellow's occupancy fell by 3 percent in the three months ending in September, with trading conditions also described as tough in the last three months of 2008.

Total store revenue for the three months to September rose 1 percent to £14.2m, but was down 5 percent quarter on quarter. Like-for-like sales fell by 5 percent compared with the same period last year. Closing occupancy was 1,746,000 square feet across all stores by Sept. 30, down 3 percent this time last year.

"Trading conditions continued to be tough in what has been traditionally our weakest quarter to the end of December. We have no doubt that the cyclical environment for consumer facing businesses will continue to be difficult for the foreseeable future, but we look forward to our seasonally more buoyant spring and summer period," Chief Executive James Gibson stated.

Based in London, Big Yellow provides self-storage throughout the United Kingdom. For more information, visit www.bigyellow.co.uk.

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