Annual revenue up 5.3pc for Lok'nStore
Self storage company Lok'nStore saw revenue rise 5.3 per cent for the year to the end of July.
Excluding new stores that opening in the year it was up by 12.1 per cent.
There was a 9.7 per cent increase in owned lettable space in 2022-2023.
Lok'nStore, which has sites at Oldbury and Wolverhampton, is to open three new stores in 2023-2024 at Staines, Basildon and Kettering.
Chairman Andrew Jacobs said revenue momentum in the year had been robust with growth driven by continued strong demand.
"We continue to deliver on our strategy of opening more new stores in the under supplied self-storage market," he said.
Mr Jacobs added that Lok'nStore had a secured pipeline of a further eight stores which will accelerate growth in cash flows to fund more dividends to shareholders and more growth of the business.
In July the company raised approximately £20.5 million to support its growth ambitions developing new landmark stores in the structurally under-supplied UK self-storage market.
