Overview
Big Yellow has released its results for the year ended 31 March 2014. The net asset value grew from 419.2p to 446.5p (7% uplift). The dividend was raised by a significant margin – from 11.0p to 16.4p, an uplift of 49%. Occupancy rose to 69.8% from 64.8% and average rents rose by 6%. Gearing fell a little and now stands at 36% of net assets – this led to an improvement in interest cover which now stands at 4.1x. .