LONDON (Alliance News) - Lok'n Store Group raised its dividend 20% after it posted increased revenues and pretax profit in the year ended July 31.
The company reported revenue of GBP13.0 million, up from GBP12.8 million in the previous year, while pretax profit rose to GBP1.4 million from GBP926,000.
The company said that it had tightly controlled costs and seen strong occupancy growth.
Signalling its confidence, Lok'n Store raised its full year dividend to 6 pence, up from 5 pence in the previous year.
"Revenue and occupancy growth from our existing stores, combined with the opening of the new Crawley, Maidenhead and Aldershot stores will take us to 25 trading stores and backed by a strong balance sheet will underpin the continued growth of the business," said Chief Executive Officer Andrew Jacobs in a statement.
Shares in the self-storage company were trading up 6.4% at 184.00 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Lok N Store (LOK)
