Lok N Store Share News (LOK)

Storage firm Lok'nStore saw full year EBITDA fall 10.4% but added that trading since the start of 2009 has been encouraging.Group EBITDA fell to £2.45m for the year ended 31 July 2009 compared with £2.73m in 2008. Revenue for the period was down 7.6% at £10.01m.In the first six months Lok'nStore said occupancy declined in a difficult trading environment but for the year as a whole occupancy rose 1.7% from the same time last year.On an upbeat note, CEO Andrew Jacobs commented, "Since the beginning of 2009 trading has been encouraging with reservations, enquiries, square feet let and number of customers all increasing." "Turnover is now increasing with lower operating costs and lower financing costs boosting cash flow," he added. The full year dividend payment has been maintained at 1p per share.