Big Yellow profits hit by property downgrade - Telegraph
Big Yellow's business is driven by changing circumstances for individuals and businesses, therefore the low level of housing transactions compared to the historical average is proving a drag on the group.
Revenues grew 7pc to £61.9m in the year to March 31, but profits fell to £6.9m after the value of Big Yellow's property portfolio was downgraded by 2pc, the company said in a statement.
Shares in Big Yellow fell 6.40, or 2pc, to 338p following the results.
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