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BIG YELLOW SELF STORAGE Final Results Year Ended 31 March 2021 Released : 25.05.2021 RNS Number : 6495Z Big Yellow Group PLC 25 May 2021 Big Yellow Group PLC ( " Big Yellow " , " the Group " or " the Company " ) RESULTS FOR THE YEAR ENDED 31 MARCH 2021 DELIVERING GROWTH IN A CHALLENGING YEAR Financial metrics Revenue Store revenue ( 1 ) Like - for - like store revenue ( 1 ) Store EBITDA ( 1 ) Adjusted profit before tax ( 1 ) EPRA earnings per share ( 1 ) Dividend - final - total Statutory metrics Profit before tax Cash flow from operating activities Basic earnings per share Store metrics Store Maximum Lettable Area ( " MLA " ) ( ¹ ) Closing occupancy ( sq ft ) ( 1 ) Occupancy change ( 1 ) Closing occupancy ( 1 ) Occupancy - like - for - like stores ( % ) ( 1 ) Average net achieved rent per sq ft ( 1 ) Closing net rent per sq ft ( 1 ) Year ended Year ended 31 March 2021 31 March 2020 Change £ 135.2m £ 129.3m 4.6 % £ 132.5m £ 125.4m 5.7 % £ 131.2m £ 125.1m 4.9 % £ 91.9m £ 87.2m 5.4 % £ 74.6m £ 71.0m 5.1 % 42.4p 42.1p 0.7 % 17.0p 16.7p 1.8 % 34.0p 33.8p 0.6 % £ 265.8m £ 93.4m 185 % £ 76.7m £ 73.6m 4.2 % 152.3p 55.8p 173 % 4,930,000 4,201,000 420,000 sq ft 4,688,000 3,781,000 ( 29,000 sq ft ) 5.2 % 11.1 % 449,000 sq ft 85.2 % 80.7 % 4.5 ppts 87.4 % 80.7 % 6.7 ppts £ 28.16 £ 27.86 1.1 % £ 28.71 £ 28.15 2.0 % 1 See note 28 for glossary of terms Highlights • 4.6 % revenue increase largely driven by increase in average occupancy • Store revenue for the fourth quarter was £ 33.8 million , an increase of 9.7 % from £ 30.8 million for the same quarter last year • Average net achieved rent per sq ft up 1.1 % year - on - year . Like - for - like closing store occupancy 87.4 % ( 2020 : 80.7 % ) • Cash flow from operating activities increased by 4.2 % to £ 76.7 million • Adjusted profit before tax up 5.1 % to £ 74.6 million , adjusted earnings per share up 0.7 % to 42.4p • 0.6 % increase in total dividend to 34.0 pence per share • Statutory profit before tax of £ 265.8 million , up 185 % from prior year due to higher revaluation gain on investment properties • Three new stores opened in the year in Camberwell ( London ) , Bracknell and Battersea ( London ) • Placing of 8.3 million shares in April 2020 raising £ 79.9 million ( net of expenses ) to grow our development pipeline • Acquisition of four new development sites in Wapping , Staines , Epsom , and Kentish Town ( all London ) with a total estimated self storage development cost of £ 106 million . These acquisitions take the pipeline to 14 sites totalling approximately 1.0 million sq ft ( 20 % of current MLA ) • Planning consent secured on five proposed stores in year , eight in total now have planning . Nicholas Vetch , Executive Chairman of Big Yellow , commented :