Results round-up

Price comparison website Gocompare.com posted a 19% increase in revenue for the year ended 31 December following what it called a transformational year.

Revenue rose to £142m, which is in line with guidance, while adjusted operating profit is expected to be around £30m. This would represent 30% growth from 2015 and is at the top end of the guidance provided at the time of the publication of the demerger prospectus in October last year.

Gocompare also said cash generation has been strong, with leverage reducing to 2.0x at the year-end versus 2.8x at the time of the demerger.

Chief executive officer Matthew Crummack said: "2016 has been a transformational year for Gocompare.com. We completed the demerger of Gocompare.com from esure Group plc and strengthened the team at the executive level.

“Furthermore, today's announcement highlights that the group continues to deliver good trading results. We start 2017 from a position of confidence and look forward to delivering another year of strong growth.”

Big Yellow Group’s third quarter revenue rose slightly as occupancy improved while the storage company remained cautious about the economic outlook of Britain.

Like-for-like revenue growth for the third quarter ended 31 December, which is traditionally weaker, nudged up 5% to £26.9m as it was affected the loss of occupancy in the quarter being more front-ended.

While revenue for the quarter increased 7% to £27.4m and LFL revenue for the year to date rose 6% to £80.7m.

After a weak October, occupancy improved in November and December with a loss of 137,000 square feet, 3% of maximum lettable area (MLA) in 73 stores, compared to a loss of 138,000 square feet, 3.1% of MLA, the prior year.

The average year-on-year rate growth slowed to 2.3% compared to 2.8% for the first half of the year.

The FTSE 250 company said that its guidance for the year "remains in line with current consensus".

Revenue from the Armadillo business increased by 17% to £2.6m and LFL revenue, excluding the West Molesey and Canterbury sites, which were bought from Lock and Leave in April 2016, increased by 4%.