Results and NAV were better than expected at self-storage sites operator Lok’nStore (LON: LOK) which has benefitted from improving cash flow. Investment in new sites continues and the company has the cash available to fund this and a 15% increase in the dividend. The share price has increased by 44% since the recommendation.
In the year to July 2021, revenues improved 21% to £21.9m, which was 6% ahead of the finnCap forecast. Pre-tax profit rose from £4.69m to £6.45m.
Strong demand for space meant that occupancy rates improved from 69.6% to 85.8%, with new sites filling up faster than ever. Th...
