Annual Report and Accounts 2023
The Big Yellow Difference
Big Yellow the UK’s brand leader
in self storage.
We put the customer at the heart of everything we do and believe in getting the small things right to make the biggest impact. We continually evolve how we interact with our customers, utilising systems and technology to make their self storage experience simple and effortless whilst ensuring we continue to operate a sustainable business.
Chairman's Statement
Big Yellow Group PLC (“Big Yellow”, “the Group” or “the Company”), the UK’s brand leader in self storage, is pleased to announce its results for the year ended 31 March 2023.
We are pleased to have delivered these results despite an increasingly familiar year of macroeconomic, political and geopolitical volatility. Our pricing models to new and existing customers have successfully mitigated the impacts of higher inflation, delivering improved average achieved rents, which have been the main driver of revenue growth. Underpinning our resilience is our core strategy to invest significantly in the London market, which has seen the strongest performance, driven by both domestic and business customers, over the last year. We have also been successful in controlling overall increases in store operating expenses to 4% on a like-for-like basis, resulting in improved operating margins. Continue reading…
Strategic Report
Brand, platform, and customer service.
Our strategy from the outset has been to develop Big Yellow into the market-leading self storage brand, delivering excellent customer service, investing in sustainability and our market-leading operating platform and digital channels, with a great culture and highly motivated employees.
Governance
The Company is committed to the principles of corporate governance contained in the UK Corporate Governance Code issued by the Financial Reporting Council in 2018.