Lok’nStore said that trading in the second half of the financial year to 31 July had been robust, recovering strongly from challenging conditions in the first half of the year.
In a trading update the listed storage group said that in each of the last six months occupancy had seen a month-on-month increase, recovering earlier falls, and is now up 2% year-on-year.
Average revenue per sq ft is also rising again.
Lok’n’Store said net debt of £25m was well supported by a banking facility of £40m which runs until 2012.
Results for the year ended 31 July 2009 will be announced on 9 November 2009.
