Big Yellow reported third-quarter revenue of £52.3 million, a 2% increase from the prior year. The self-storage operator credited higher net rents for offsetting lower occupancy during a seasonally weaker period. Like-for-like store revenue also rose 2% to £51.9 million.

Closing occupancy stood at 75.4%, down 1 percentage point from a year ago. However, the decline was less severe than the 180,000 square foot reduction in the comparable quarter. Average achieved net rent per square foot reached £36.19, with closing rents up 3% annually, demonstrating pricing power in a challenging market.

Chief Executive Jim Gibson noted demand improved later in the quarter, with net occupancy gaining 15,000 square feet versus a loss last year. The company anticipates adjusted earnings per share growth for the full year, even as it redirects cost savings into digital marketing.