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Big Yellow - NAV rises 47%

July 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BYG
  • Price:
  • 568p
Another highly impressive set of results from self-storage operator Big Yellow. For the year ended 31 March, turnover increased 22% to £41.9m, with pretax profit before property gains rising 13% to £14.2m. The juiciest part of the results was the huge revaluation of its (mostly freehold) properties, which increased £180m or 23% to £590m. Adding this back meant overall profit rose 29% to £153m, while its net asset value (NAV) rose a whopping 47% to 438p, helped by a red hot commercial property market. The costs of expansion meant that net debt increased from £142m to £188m but gearing fell to 38% and borrowing facilities have been raised by £50m to £275m. During the year, Big Ye ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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