(Reuters) - Big Yellow Group Plc (L:BYG), a provider of self-storage spaces, said it had seen a slight moderation in customer demand since Britain voted to leave the European Union, with fewer customers moving in and out of its spaces.
Big Yellow said trading conditions for the six months ended Sept. 30 had been in line with last year allowing it to post a 13 percent rise in adjusted pretax profit. However, on average it had seen slightly fewer potential customers finally deciding to move in, which could reflect some hesitancy before and after the referendum.
But, Big Yellow, which owns stores largely in London and the South, said it still expected demand over the longer-term to be helped by continued growth in London's population, which would benefit its stores as limited supply brought customers to its doors.
"It would not come as a surprise to us for activity levels and demand in the next year or two to be more subdued than in recent years. That said, we have been planning for this eventuality since 2008, and believe that the business is well placed to face down most challenges," Executive Chairman Nicholas Vetch said in a statement.
Although Britain's economy has held up better than expected since the June 23 vote, thanks to strong consumer spending, some economists expect a slowdown next year when Britain is due to launch its formal divorce talks with the EU.
London-based Big Yellow provides people and businesses with space to store goods, equipment and furniture while moving homes and offices.
The company said six-month adjusted pretax profit rose to 27 million pounds ($34 million) from 23.9 million pounds.
Revenue jumped 9 percent to 54.8 million pounds, it said.
($1 = 0.8003 pounds)