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Primary Recommendation

Big Yellow - Cashflow improves as base rate falls

December 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BYG
  • Price:
  • 198p
Self storage company Big Yellow has been a good long-term performer since it joined AIM in May 2000. But recently investor concerns over any company that carries debt and/or commercial property exposure means that no one is paying any attention to valuations. Big Yellow's share price has fallen by two thirds from a high of 630p last year and at 224p, they are at a 50% discount to the last reported net asset value.The company is sitting on a treasure trove of large self storage stores, with an average size of 60,000 square feet. One estimate is that there are 680 self storage units in the UK with only 110 of these being the "tier 1" category killers Big Yellow likes to open, of which it owns 48. Fears that the company is trading at ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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