Last checked at 1 Feb 2019 08:01
Lok'nStore to dispose of document storage business
(Sharecast News) - Self-storage company Lok'nStore has announced the disposal of its document storage business, Saracen, to Iron Mountain UK for £7.64m in cash.
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Share Price Information for Lok N Store (LOK)
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Share Price:
1,110.00
Bid:
1,110.00
Ask:
1,115.00
Change:
-5.00 (-0.45%)
Spread:
5.00 (0.45%)
Open:
1,120.00
High:
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Prev. Close:
1,115.00
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Mon, 08th Aug 2016 13:29
(ShareCast News) - Storage company Lok'nStore's revenues increased due to store expansion. In a trading update for the year ended 31 July, the company's revenue grew by 5.2% compared to the same period last year.Self-storage unit occupancy increased by 2% and the price per let square foot increased by 2.2%.The AIM-listed company's document storage business revenue also increased by 11.1%, compared to the same period last year with costs slightly down which resulted in a doubling of earnings before interest, tax, depreciation and amortisation (EBITDA).The numbers of boxes increased by 8.7% and tapes stored rose by 14.2% over the past 12 months.The company opened purpose-built stores in Bristol and Southampton. It opened two owned stores in Wellingborough and Gillingham, and two managed stores in Hemel Hempstead and Broadstairs, due to be opened in 2017.The company received about £8.5m from selling three sites and helped debt and leverage remain low. The company's reduced interest margin on a new bank facility further reduced finance costs.Chief executive Andrew Jacobs, said: "We have built on the solid turnover and profits growth of last year with another strong trading performance in this financial year delivering a 5.2% growth in like for like revenue in our core self-storage business."Lok'nStore's strategy of expanding the operating footprint of the business by developing both managed stores and owned stores while maintaining its strong balance sheet combined with our flexible new banking facility give us confidence that Lok'nStore can continue to deliver growing dividends for its investors from an increasing number of stores."The company's full year results will be released on 17 October.Shares in Lok'nStore were down 0.16% to 321p at 1303 BST.
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Lok'nStore Full-Year Profit Rises On Higher Demand For Storage Units
LONDON (Alliance News) - Lok'nStore Group PLC on Monday said its earnings grew in its recently ended financial year following a rise in occupancy and store numbers.The self-storage said
Read more6 Aug 2018 10:37
Lok'nStore full-year revenue jumps amid 'strong' trading
(Sharecast News) - AIM-listed self-storage company Lok'nStore reported a jump in full-year revenue on Monday as it hailed "strong" trading.
Read more11 Jun 2018 10:32
Lok'n Store Buys Two Landmark Store Sites In GBP15 Million Investment
LONDON (Alliance News) - Self-storage firm Lok'n Store Group PLC said Monday it acquired two new freehold sites in order to develop two new "landmark" stores at a cost of up to GBP15
Read more23 Apr 2018 10:43
Lok'n Store Works Toward Storage Pipeline With Strong First Half
LONDON (Alliance News) - Storage provider Lok'n Store Group PLC said on Monday it plans more expansion as profit and revenue for the first half of its financial year rose.For the six to
Read more8 Mar 2018 13:16
DIRECTOR DEALINGS: Lok'nStore Chairman Sells 20,000 Shares
LONDON (Alliance News) - Lok'nStore Group PLC said Thursday that Chairman Simon Thomas sold 20,000 ordinary shares at 390 pence per share, as part of his be
Read more13 Feb 2017 12:37
Lok'nStore posts 'solid' first half
(ShareCast News) - Self-storage company Lok'nStore provided an update on its trading in the first half of the financial year to 31 January on Monday. The AIM-traded firm said, building on the positive momentum of FY2016, trading in the first half of FY2017 remained solid. In its core self-storage b
Read more13 Feb 2017 07:39
31 Jan 2017 08:41
17 Oct 2016 10:20
Lok'nStore improves FY pre-tax profit
(ShareCast News) - Lok'nStore has hiked its full-year pretax profit to £5.5m from £2.7m a year earlier, and said its rapid-development programme can be financed from cash flow and existing banking facilities. Adjusted net asset value per share rose 27.6% to 386p, from 302p. Annual dividend was 9p
Read more4 Aug 2016 12:53
Lok'nStore signs management contract for Hertfordshire, Kent stores
(ShareCast News) - Self-storage company Lok'n Store signed management contracts to develop and operate two new stores in Hertfordshire and Kent to continue its expansion strategy. Building work is to start immediately, funded by the owners of the sites and should open in 2017. The company secured p
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