Self storage business Lok n’Store posted an 18.7% increase in its operating profits in its full year results to 31 July.
It generated £3.7m on revenues of £15.4m, which were also up by 10.9%.
During the year the company opened new locations in Reading and Aldershot. It is due to open a new store in Chichester before the end of the year and new stores in Bristol and Southampton next year. The company said it was “constantly reviewing new store opportunities”.
Andrew Jacobs, chief executive, said:
“Trading this year has been strong with turnover, profits and assets increasing rapidly. Our new store development programme continues to change the balance of our store portfolio. New and purpose built stores will account for around 59% of the portfolio once this is completed.”
