On 9 June 2020 Big Yellow Group PLC (BYG) released the details of their FY20 trading results. The highlights of the BYG FY20 trading results for the Armadillo Portfolio included:
- Total revenue of £16.7m, up 11% on pcp; and
- Store EBITDA of £9.4 million, up 9% on pcp
BYG also provided an update on COVID-19 and the impact on trading for FY21. Occupancy dropped 47,000 sqft from 1 April to 24 April, however recovered to grow by 85,000 sqft from 25 April to 8 June across BYG portfolio. The net increase of 38,000 sqft for FY21 highlights the relative resilience of the business through this initial lock down phase.