Self-storage company Lok’nStore turned in a strong set of preliminary results reporting increasing assets and profit and falling debt, pushing up its adjusted NAV by 7.9% to £4.16 a share.
An increase in its new store pipeline to 11 will add around 45% more space to its operation over the coming years which it describes as “an exciting period of rapid growth”.
Net assets for the group were up 24.7% to £89.1m.
Chief executive Andrew Jacobs said the company was raising the dividend by 11.1% to 10p per share, making it the sixth successive year of “substantial dividend growth”.
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