Tip update: Lok’nStore forecasts trimmed, but outlook remains excellent

Like-for-like sales were 10% ahead at AIM-quoted self-storage sites operator Lok’nStore (LON: LOK) through a combination of higher prices and increased space utilisation. That is much higher than finnCap’s like-for-like growth forecast of 6%.

Forecast revenues and operating margins are being maintained, but rising interest rates means that the 2022-23 pre-tax profit forecast has been trimmed from £11.1m to £10.6m. The forecast for next year has been cut from £11.4m to £10.2m. This does not a...