Price rises and additional space helped self-storage sites operator Lok’nStore (LON: LOK) to beat expectations in the year to July 2022. NAV of 972p a share was much higher than expected.
There are currently 40 sites operating, including 16 managed stores. Self-storage is a market where larger companies are taking a greater share and there is still plenty of scope for growth.
In the year to July 2022, revenues increased from £21.9m to £26.9m, while underlying pre-tax profit jumped from £9.1m to £13.1m. There were trebled non-recurring managed store fees of £1.5m during the period, but t...
