Annual Report and Accounts 2007
Locations Business Overview Financial Highlights Chairman's Statement Business Review Financial Review Accounts
 
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    Measuring Our Progress...    
         
    Highlights    
   
   
> Revenue increase of 11% in the year, with same store revenue growth of 5.5%
> EBITDA before non-recurring items and revaluation movements up 17% to £29.6 million
> Adjusted profit before tax down 6% due to higher interest cost in the year
> Full year dividend increased by 6% to 9.5p
> Adjusted net assets per share up significantly to 520.2p
> Occupied space of 1,817k sq ft at 31 March 2008 (December 2007: 1,800k sq ft; March 2007: 1,780k sq ft)
> 48 stores open at 31 March 2008 providing 3.0 million sq ft of self storage space
> Six stores opened during the year, including Fulham, our flagship store. Kennington opened since the year end
> Ten freehold sites acquired during the year, four in London, plus sites in Birmingham, Sheffield, Edinburgh, Camberley, Reading and Guildford. Freeholds of Cheltenham and Chelmsford stores acquired in the year
> Pipeline of 22 sites and one extension site to provide an additional 1.5m sq ft at an estimated total cost of £242 million, 52% by capacity in London
> Nine planning consents obtained since 1 April 2007
> Establishment of £150 million partnership with Pramerica to develop Big Yellow stores in the Midlands, North of England and Scotland
   
         
   
Financial Highlights
Year ended
31 Mar 2008
  Year ended
31 Mar 2007
%
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Revenue £56.9m   £51.2m 11
EBITDA before non-recurring items and revaluation movements(1) £29.6m   £25.4m 17
Profit before tax £101.8m   £152.8m (33)
Adjusted profit before tax(1) £13.3m   £14.2m (6)
Basic earnings per share 89.20p   192.97p (54)
Adjusted earnings per share(2) 11.20p   10.01p 12
Dividend - final 5.5p   5.5p -
Dividend - total 9.5p   9.0p 6
Adjusted NAV per share(3) 520.2p   437.8p 19
Cash flow from operations £30.8m   £30.2m 2
Occupied space at year end(4) 1,817k sq ft   1,780k sq ft 2
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    (1) See note 10 (2) See note 12 (3) See notes 12 and 14 (4) See Portfolio summary    
         
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