Quoted self-storage group Lok n Store has reported a rise in interim turnover, but recorded a loss due to the opening of a number of new units.
For the six months to 31 January, the groups turnover grew 24% to £2.37m (2001: £1.91m) while it recorded a pre-tax loss of £445,079 (2001: profit £127,457).
Lok n Store said the loss arose from “the normal start-up losses arising from the opening of four new sites at the end of the last financial year and the new site this year”.
The group has 17 self-storage facilities, with the latest in Ashford, Kent opening in November 2001.
Chairman Andrew Jacobs commented: “I am pleased to report that we continue to make excellent progress in driving the group’s organic growth. Demand for storage space remained buoyant during the period and trading in all our sites was strong.”
EGi News 18/04/02
