Self-storage company Lok’nStore has posted a near-5% rise in revenue over the six months to 31 January.
In a trading update, the AIM-listed company said it opened two new landmark stores in Basildon and Kettering during the period and has new stores in Staines and Bromborough due to open this year, as well as planning permission under way for sites in Barking and Eastbourne.
Chair Andrew Jacobs said: “Trading in the first half of FY24 has been positive with self-storage revenue up 4.9% on the same period last year. We continue to deliver on our strategy of opening more new stores in the under-supplied self-storage market. We have made significant progress on our new store pipeline with the Basildon store opening in December 2023, the Kettering managed store in February 2024 and two more stores due to open in 2024 in Staines and Bromborough. These new stores are anticipated to add further momentum to sales, earnings and net asset growth.”
