We're your big friendly personal and business storage company. That means we offer you flexible, low cost, accessible space to store your stuff for as long as you like.

At Lok’nStore, you’ll find the right self storage solution for you - we guarantee it.


In 1995 we were one of the first self storage companies in the UK. Now we have over 24 stores in handy locations across the South East of England. At each one you'll find a huge range of self storage units to choose from and a friendly team ready to help you out with storage tips and offer you a cuppa.

Traded on: AIM Ticker: LOK

http://www.loknstore.co.uk/

MIDAS-SHARE-TIPS-Prospects-look-secure-storage-firm-boosts-sites.

loknstore-still-undervalued

Chief executive Andrew Jacobs agrees. "We trade at a heck of a discount to our quoted peers and yet we are growing our business, which those guys aren't, so we find ourselves in an interesting position."

LOK'N STORE GRP

19 Oct 2015 07:00:05



Lok'nStore Group



RNS Number : 5935C

Lok'nStore Group PLC

19 October 2015






LOK'NSTORE GROUP PLC

("Lok'nStore" or "the Group")



Preliminary results

for the year ended 31 July 2015



Lok'nStore Group Plc, a leading company in the UK self-storage market announces results for the year ended 31 July 2015.



Highlights

"Full year results up strongly - more growth from new stores and more new stores to come"



Record financial results ahead of expectations on all measures

· Revenue £15.42 million up 10.9% (2014: £13.91 million)

· Adjusted EBITDA1 £5.68 million up 23.1% (2014: £4.62 million)

· Operating profit2 £3.66 million up 18.7% (2014 normalised: £3.08m)

· Profit before taxation2 £2.65 million up 34.6% (2014 normalised: £1.97 million)

· Cost ratio reduced to 61.2%3 (2014: 64.7%).



Strong cash flow supports 14.3% dividend increase - progressive dividend policy

· Annual dividend 8 pence per share up 14.3% (2014: 7 pence per share)

· Funds from Operations (FFO) 4 £4.98 million up 25.2% (2014: £3.97 million)

· FFO per share of 19.6 pence per share up 22.1% (2014: 16.1 pence per share)



Asset backed: Adjusted Net Asset Value per share5 up 11.4% to £3.02 (2014: £2.71)

· Total assets now circa £100 million



Strong balance sheet, efficient use of capital, low debt

· Net debt down to £25.3 million (2014: £25.5 million)

· Loan to value ratio down to 25.8%6 (2014: 28.2%)



Self-storage business performing strongly

· Store EBITDA £7.197 million up 18.6% (2014: £6.06 million)

· Store EBITDA margins up 3 percentage points to 53.7% (2014: 50.7%)

· Unit Pricing up 4.2%

· Total occupancy up 0.6% with 57,203 sq. ft. of new units fitted

· Ancillary sales up 6.3%



Document storage showing good volume growth

· Year-end boxes stored up 36.2%

· Revenue £1.96 million up 6.5% (2014: £1.84 million)



Growth from new stores and more new stores to come

· New and purpose built stores lettable space will represent 59% of owned store portfolio

· New Reading store opened October 2014

· New Aldershot store opened May 2015

· New Chichester store due to open by end 2015

· New Southampton and Bristol stores due to open spring 2016

· Constantly reviewing new store opportunities



Post Balance sheet

· Additional £2 million received on sale of old Reading store

· Sale of Swindon store for £3.5 million (2014 NBV £1.4 million)



1 Adjusted EBITDA is defined as profits before depreciation, amortisation, losses or profits on disposal, share-based payments, acquisition costs, non-recurring professional costs, finance income, finance costs and taxation

2 2014 comparatives normalised for 2014 property impairment charge of £1.6 m

3 Group operating costs as a percentage of Group revenue

4 Funds from Operations (FFO) calculated as EBITDA minus net finance cost on operating assets

5 Adjusted net asset value per share is the net assets adjusted for the valuation of leasehold stores and deferred tax divided by the number of shares at the year end. The shares held in the Group's employee benefits trust and treasury are excluded from the number of shares.

6 Calculation based on net debt of £25.3 million (2014: £25.5 million) and total property value of £97.8 million (2014: £90.5 million) set out in the Financial Review section of the Strategic Report.

7 Store adjusted EBITDA is Adjusted EBITDA (see above1) before central and head office costs





Commenting on the Group's results, Andrew Jacobs CEO of Lok'nStore Group 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. We opened new stores in Reading in October 2014 and Aldershot in May 2015. Both are trading well. New stores in Chichester, Southampton and Bristol opening in the coming year will add further impetus to sales and earnings growth.



The strong growth of the business and Lok'nStore's low level of debt means that this rapid development programme can be financed from cash flow and existing bank facilities, while progressively increasing the dividend."

A comparison to Safestore

SAFE - BLUE
LOK - RED

Ex divi Thurs 19 Nov 5.67p

26 Nov finnCap 378.00 Corporate

Good performance today pulling back some of the drift in sp over the last couple of weeks.

Pre-close trading update
RNS
RNS Number : 3067O
Lok'nStore Group PLC
08 February 2016

8 February 2016

Lok'nStore Group plc ("Lok'nStore" or "the Company")

Pre-close trading update

"Continued strong performance"

Lok'nStore, the fast growing self-storage Company with 25 stores across South East England, is pleased to provide the following update on trading in the first half of its financial year to 31 January 2016.

Building on a good FY2015 performance, trading in the first half of FY2016 has remained strong. In our core self-storage business the first half like for like* revenue was up 5.4% year-on-year. At 31 January 2016, like for like* self-storage occupancy was up 2.4% and price per let square foot increased 3.3% compared to the same period 12 months ago.

In our Document Storage business, revenue and EBITDA have responded rapidly to the improved operating metrics reported previously. Revenue grew by 14.7% against the same period last year with costs slightly down resulting in over a doubling of EBITDA. The number of boxes stored increased by 11% over the twelve months to the end of January 2016.

Interim results will be announced on 25 April 2016.

* All self-storage revenue and occupancy growth rates are like-for-like and year to year stripping out the effect of the sale of the Swindon operations for £3.5 million in September 2015

Andrew Jacobs, CEO of Lok'nStore said:

"We have built on the solid turnover and profits growth of last year with strong trading in the first half of our financial year 2016 with a 2.4% like for like increase in occupancy and a 3.3% increase in prices delivering a 5.4% growth in revenue in our core self-storage business.

"Following the receipt of the additional £2 million for the sale of the old site in Reading and the £3.5 million for the sale of the Swindon operation, debt and leverage remain low and the reduced interest margin on our new bank facility further reduces finance costs. The new bank facility underlines the financial strength of Lok'nStore with its modest gearing, valuable property assets and strong and growing cash flow. With its substantially improved terms and structure we are able to invest in the future growth of the business.

"Trading at the new Reading, Maidenhead and Aldershot stores has been excellent underpinning our confidence that the new stores in Southampton, Bristol and Chichester opening over the coming few months will provide added impetus to sales and earnings growth."

-Ends-

8 Feb finnCap 399.00 Corporate

StockMarketWire.com
Self-storage group Lok'nStore unveils record first-half results with pre-tax profits up 155.5% at GBP3.79m.

Revenue for the six months to the end of January rose to GBP7.99 million - up 4.7% on a year ago and up 8% on a like-for-like basis.

Operating costs fell by 0.6% and adjusted EBITDA rose to GBP3.30million up 13.1%. Operating profit (pre-exceptionals) rose by 17.4% to GBP2.39 million and operating profit (post-exceptionals) increased by 106.8% to GBP4.20m.

Chief executive Andrew Jacobs said: "With revenue up and costs down Lok'nStore's profits have continued to grow robustly. We are investing in the future growth of the business with more new landmark stores. Our low level of debt means that this rapid development programme can be financed from cash flow and existing bank facilities, while progressively increasing the dividend.

"Our new store development programme continues to change the balance of our store portfolio with new and purpose built stores accounting for 59% of our portfolio. New stores in Chichester, Southampton and Bristol will add impetus to sales and earnings growth, and our pipeline of 4 new stores will reinforce this further."

Acquisition of two landmark sites for new stores

RNS


RNS Number : 2732X

Lok'nStore Group PLC

05 May 2016




5 May 2016

Lok'nStore Group plc ("Lok'nStore" or "the Company")

"Acquisition of two landmark sites for new stores"

Lok'nStore, following the announcement of strong interim results on Monday 25th April, is pleased to announce the acquisition of two landmark sites for new stores.

Located in Wellingborough, Northamptonshire and Gillingham, Kent the two sites are in prominent retail locations with large catchment areas and little established competition. Both sites have been acquired subject to planning. The total capital investment of approximately £10 million will be financed from cash flow and the banking facility signed in January 2016. The stores are scheduled to open at the end of 2017.

When developed these stores will add around 110,000 sq. ft to the trading portfolio increasing the company's capacity of owned stores by 10%. They will take the proportion of Lok'nStore's space which is new or purpose built to 62%. The Company will then be operating 28 self-storage centres.

Andrew Jacobs, CEO of Lok'nStore said:

"These two, excellent new locations show clear progress in delivering our strategy of developing landmark stores. Trading at our recently opened stores has been encouraging and our strong balance sheet and flexible new banking facility give us the confidence that Lok'nStore can continue to deliver growing dividends for its investors from an increasing number of stores.

"Our upcoming store openings in Southampton and Bristol will provide added impetus to sales and earnings growth, and Wellingborough and Gillingham will enhance this further."

-Ends-

Completion of sale of Portsmouth land

RNS


RNS Number : 7428F

Lok'nStore Group PLC

01 August 2016




1 August 2016



Lok'nStore Group plc ("Lok'nStore" or "the Company")



Completion of sale of Portsmouth land



The Board of Lok'nStore Group plc, the fast growing AIM listed self-storage Company, is pleased to announce the completion of the sale of its undeveloped site in Portsmouth for £3 million in cash, equating to its July 2015 Book Value. This sale was originally announced on 24 November 2014 and was conditional upon the buyer obtaining the requisite planning approvals. This process is now successfully concluded and the sale completed on 29 July 2016.



As a result of the sale Lok'nStore's pro forma* loan-to value (LTV) ratio will be reduced by 2.3 percentage points to 23.5% (2015: 25.8%).

The proceeds of this transaction will be recycled into projects such as the new stores in Wellingborough, Gillingham and elsewhere.

Lok'nStore group will announce results for the financial year to July 2016 on Monday 17 October 2016.

Andrew Jacobs, CEO of Lok'nStore Group said:

"The completion of this sale is another step in the continued expansion of our operating business while keeping a tight lid on leverage. The proceeds will be recycled into our exciting programme of new purpose built landmark stores.

"Our recently opened stores in Chichester, Southampton and Bristol are trading well and we look forward with confidence to further new store openings in Wellingborough, Gillingham and elsewhere."

*Pro forma LTV using July 31 2015 valuations. Calculation based on adjusted net debt of £22.3 million (2015: £25.3 million) and adjusted total property value of £94.8 million (2015: £97.8 million).

Two new stores to be developed

RNS


RNS Number : 2010G

Lok'nStore Group PLC

04 August 2016




4th August 2016

Lok'nStore Group plc ("Lok'nStore" or "the Company")

"Two new stores to be developed under management contracts"

Lok'nStore, the fast growing self-storage Company, is pleased to announce the signing of management contracts to develop and operate two new landmark stores.

The two sites are in prominent retail locations in Hemel Hempstead, Hertfordshire and Broadstairs, Kent. Lok'nStore has secured planning permission for a purpose built landmark site in Hemel Hempstead which has been purchased by an international fund management group. The Broadstairs site is an existing building in a prominent location on a retail park that will be converted for storage use. Building work will commence immediately on both locations, funded by the owners of the properties, with opening scheduled for 2017.

When developed these Managed Stores will add around 70,000 sq. ft. to the trading portfolio, an increase of 5% to the total managed or owned currently by the Company. With the addition of the new landmark sites recently acquired as Lok'nStore Owned Stores in Wellingborough and Gillingham the Company will be operating 30 storage centres when these sites are completed.

Lok'nStore will generate a return on these stores by charging management fees for the acquisition, branding and operation of the stores based on revenue and profits. These projects continue Lok'nStore's strategy of expanding the operating footprint of the business by developing both Managed Stores and Owned Stores while maintaining its strong balance sheet.

Andrew Jacobs, CEO of Lok'nStore said:

"We are excited to have signed management agreements on these two excellent new locations adding to the recent rapid growth in our portfolio of storage centres. Trading at our recently opened stores has been encouraging and our strong balance sheet and flexible new banking facility give us confidence that Lok'nStore can deliver growing dividends for its investors from an increasing number of stores.

"Recently opened stores in Southampton, Bristol and Chichester add impetus to sales and earnings growth. These three new stores as well as Wellingborough and Gillingham will enhance this further. "

-Ends-

4 Aug finnCap 399.00 Corporate

StockMarketWire.com
Like-for-like revenues in Lok'nStore's core self-storage business was up 5.2% for the year to the end of July.

Like-for-like self-storage unit occupancy was 2.0% higher and price per let square foot increased 2.2% over the year.

In the group's Document Storage business, revenue and EBITDA have responded well consistent with the improved operating metrics reported at the interim results.

Revenue grew by 11.1% against the same period last year with costs slightly down resulting in a doubling of EBITDA. The number of boxes stored increased by 8.7% and the number of tapes stored increased by 14.2% over the twelve months to the end of July 2016.

Full year results will be announced on 17 October.

Chief executive Andrew Jacobs, CEO of Lok'nStore said:" We have built on the solid turnover and profits growth of last year with another strong trading performance in this financial year delivering a 5.2% growth in like for like revenue in our core self-storage business.

"In May 2016 we opened our new purpose-built stores in Bristol and Southampton. Trading at these stores, as well as at the new stores in Maidenhead, Reading, Aldershot and Chichester has been excellent. This underpins our confidence that our two new landmark Owned Stores in Wellingborough and Gillingham, and our two new Managed Stores in Hemel Hempstead and Broadstairs, all scheduled to open by the end of 2017, will add yet further impetus to sales and earnings growth.

"Following the receipt of the additional £2 million for the sale of the old site in Reading, £3.5 million for the sale of the Swindon operation along with the £3 million from the sale of our undeveloped site in Portsmouth, debt and leverage remain low while we continue to recycle the cash into the development of our new stores. The reduced interest margin on our new bank facility further reduces finance costs.

"Lok'nStore's strategy of expanding the operating footprint of the business by developing both Managed Stores and Owned Stores while maintaining its strong balance sheet combined with our flexible new banking facility give us confidence that Lok'nStore can continue to deliver growing dividends for its investors from an increasing number of stores."

Cheers Harry, 8 Aug finnCap 399.00 Corporate

Preliminary results for the year ended 31 July 16
RNS
RNS Number : 6186M
Lok'nStore Group PLC
17 October 2016
 

 
 
LOK'NSTORE GROUP PLC
("Lok'nStore" or "the Group")
 
Preliminary results
for the year ended 31 July 2016
 
Lok'nStore Group Plc, a leading company in the UK self-storage market announces results for the year ended 31 July 2016.
 
Highlights of Lok'nStore Group plc results 2016
 
"Impressive performance from landmark stores - with more to come"
 
Robust growth in asset value and record financial results ahead of expectations
·      Adjusted Net Asset Value1 per share up 27.6% to £3.86  (2015: £3.02)
·      Group Revenue £16.06 million up 4.1 % (2015: £15.42 million) - like for like (LFL) 2  up 7.6%
·      Group Adjusted EBITDA3 £6.30million up 10.8% (2015: £5.68 million) - LFL  up 14.0%
 
Strong cash flow supports 12.5% dividend increase - progressive dividend policy
·      Annual dividend 9 pence per share up 12.5% (2015: 8 pence per share)
·      Cash available for Distribution (CAD) 4 18.1 pence per share up 17.7% (2015:15.4 pence)
 
Strong balance sheet, efficient use of capital, low debt
·      Net debt down to £23.5 million (2015: £25.3 million)
·      Loan to value ratio down to 20.8%5 (2015: 25.8%)
 
Self-storage business performing strongly
·      Self-storage revenue £13.44 million up 1.2% (2015: £13.28 million) - LFL up 5.1%
·      Adjusted Store EBITDA £7.49 6 million up 4.2 % (2015: £7.19 million) - LFL up 6.6%
·      Unit Pricing up 2.2 %  LFL
·      Unit occupancy up 2.0% LFL
 
Document storage profit more than doubles
·      Revenue £2.17 million up 11.1% (2015: £1.96 million)
·      Adjusted EBITDA £0.59million up 125% (2015: £0.26 million)
 
Growth from new stores and more new stores to come
·      3 Stores opened in Chichester, Bristol and Southampton
·      4 Sites acquired in Wellingborough, Gillingham, Hemel Hempstead and Broadstairs
·      New sites will add 14% to trading space
 
 
For all of the definitions of the terms used in the highlights above refer to the notes section below
 
Commenting on the Group's results, Andrew Jacobs CEO of Lok'nStore Group said, 
 
"2016 was an exciting year for Lok'nStore executing on all of our objectives across our strategy. Our adjusted net asset value per share has increased by 28% this year as a result of strong trading in existing stores, in combination with new store openings and the market's increasing appetite for well-located landmark self-storage centres.
"Our new store development programme continues to change the balance of our store portfolio with new and purpose built stores accounting for around 63% of the portfolio. During the year we opened three new stores which are all trading well and acquired sites for four further new landmark stores which will increase space a further 14%.
"Lok'nStore's low level of debt, our new banking facility on significantly improved terms and the strong growth of the business means that this rapid development programme can be financed from cash flow and existing bank facilities, while increasing the dividend by 12.5%."

17 Oct
finnCap
478.00
Corporate

Lok'n Store Group PLC (LOK:LSE) set a new 52-week high during Wednesday's trading session when it reached 405.00. Over this period, the share price is up 42.95%.

Short interview with the CEO Andrew Jacobs:

https://www.ig.com/uk/market-insight-videos?bctid=5173234336001&bclid=3671160850001

Lok'n Store Group PLC (LOK:LSE) set a new 52-week high during today's trading session when it reached 460.00. Over this period, the share price is up 45.61%.

Ex dividend Thursday 17 Nov - Lok'n Store Group PLC [LOK] (6.33 p)

A buy in this weeks IC

Heading north towards the previous high.

Pre-close trading update
RNS
RNS Number : 6574W
Lok'nStore Group PLC
13 February 2017
 
 
13 February 2017 
Lok'nStore Group plc ("Lok'nStore" or "the Company")
Pre-close trading update
"Revenues up - four new stores under construction"
Lok'nStore, the fast growing self-storage Company, is pleased to provide the following update on trading in the first half of its financial year to 31 January 2017.
Building on the positive momentum of FY2016, trading in the first half of FY2017 has remained solid.  In our core self-storage business the first half revenue was up 3.9% year-on-year.  At 31 January 2017, self-storage unit occupancy was up 4.6% and price per let square foot was unchanged compared to the same date 12 months ago. 
In our serviced document storage business, revenue grew by 8.8% against the same period last year.  The number of boxes stored increased by 8% and the number of tapes increased by 27% over the twelve months to the end of January 2017.
In November 2016, in response to demand for the Company's shares and to improve liquidity the Company sold 1,975,000 shares from treasury raising £7.9m to further strengthen the balance sheet. In January 2017 the Company signed a 2 year extension to its existing £40 million bank facility. The facility which was due to expire in January 2021, will now run for the next six years until January 2023 providing funding for more landmark site acquisitions and working capital. 
The Company continues its new store opening programme and has commenced development on all four of the new sites acquired in the last financial year.
Interim results will be announced on Monday 24 April 2017.
 Andrew Jacobs, CEO of Lok'nStore said:
"We have built on the solid turnover and profits growth of last year in the first half of our financial year 2017 with a 3.9 % growth in revenue in our core self-storage business. 
"We are now on site in all four of our pipeline stores in Broadstairs, Gillingham, Hemel Hempstead and Wellingborough.  All four should be open by the end of our 2017 financial year and will provide added  impetus to sales and earnings growth.
"The recently announced two year extension on our existing banking facility with its extremely competitive terms and flexible structure further highlights the financial strength of Lok'nStore.  With our modest gearing, valuable property assets and strong and growing cash flow the Group will continue to execute its current successful growth strategy."

13 Feb
finnCap
478.40
Corporate

Going against the market today.

Interim Results
RNS
RNS Number : 0435D
Lok'nStore Group PLC
24 April 2017
 

LOK'NSTORE GROUP PLC
("Lok'nStore" or "the Group")
 
Lok'nStore Group Plc, the fast growing self-storage company announces interim results for the six months to 31 January 2017
 
"Strong balance sheet funds growth strategy and pipeline of 8 new landmark stores"
 
Highlights:   
 
Strong trading and cash flow  
·       Revenue £8.34 million up 4.5% (31.1.2016: £7.99 million)
·       Group Adjusted EBITDA1 £3.31million up 0.5% (31.1.2016: £3.30 million)
·       Adjusted pre-tax profit2 £2.1 million up 13.5%
·       Adjusted net profit2 £1.9 million up 81.2%  
 
     Cash flow growth supports 12.4% dividend increase - progressive dividend policy
·       Cash available for Distribution (CAD) 3 £2.62 million up 6.5% (31.1.2016: £2.46 million)
·        Interim dividend 3 pence per share up 12.4% (31.1.2016: 2.67 pence per share)
 
Significant growth in asset value,
·       Adjusted Net Asset Value (NAV) per share4 up 26.1% to £3.87 (31.1.2016: £3.07)
·       Total assets up to £142.65 million (31.1.2016: £113.4 million)
 
Strong balance sheet, efficient use of capital, low debt 
·       Sale of 1.975 million Treasury shares raising circa £8 million at 400 pence per share (purchase cost 150.3 pence), a premium to NAV4 
·        Net debt £16.7 million down 35.3% (31.1.2016: £25.8 million)
·        Loan to value ratio down to 14.4%6 (31.1.2016: 26.2%)
·        Extension of existing bank facility by 2 years until January 2023
·        Effective cost of debt 1.65%
·        Rolling 12 month EBITDA 16.2 times net interest
 
Consistent performance in the self-storage business
·        Core self-storage revenue £7.0 million up 3.9% (31.1.2016: £6.74 million)
·        Adjusted Store EBITDA £3.857million up 0.1% (31.1.2016: £3.84 million)
·        Occupied units pricing up 1.0% LFL8
·        Unit Occupancy up 4.6% LFL8
 
Healthy pipeline of new landmark stores - 8 stores in pipeline
·        4 new stores to open in 2017 in Wellingborough, Gillingham, Hemel Hempstead and Broadstairs
·        Plus 4 further new sites identified
·        Current pipeline adds 30% of extra trading space to the overall portfolio, 18% to our owned portfolio and 70% to the managed portfolio
·        Following successful completion of Managed Store pipeline will have 10 stores under management   .
 
Confident Outlook
·       The Group is well positioned for future growth
 
 
Commenting on the Group's results, Andrew Jacobs CEO of Lok'nStore Group said, 
 
"With strong trading Lok'nStore's profits continue to grow, as interest costs and taxation also come down. We are investing in the future growth of the business building more new landmark stores. Our low debt allows this rapid development programme to be financed from cash flow and existing bank facilities, while progressively increasing the dividend.
 
"Our new store development programme continues to change the balance of our stores with new and purpose built stores accounting for 64% of the portfolio.  The three new stores we opened in 2016 are all trading well and the 4 sites acquired last year for new stores will open in 2017 increasing space by a further 18% and adding impetus to sales and earnings growth.
 
"Our objective is to open more landmark self-storage centres while remaining conservatively leveraged to deliver robust, predictable growing cash flow and dividends from an expanding asset base

24 Apr
finnCap
510.00
Corporate

Ex divi 11 may 3p payment 9 June.

Two new landmark stores
RNS
RNS Number : 4970M
Lok'nStore Group PLC
31 July 2017
 
 
Lok'nStore Group plc
("Lok'nStore" or "the Company")
Two new landmark stores added to expanding development pipeline
Lok'nStore, the fast growing self-storage company, is pleased to announce the signing of management contracts to develop and operate two new landmark stores.
The two sites are in highly prominent locations in Exeter, Devon; and Ipswich, Suffolk.
Lok'nStore will develop these 2 sites as purpose built landmark stores. These eye-catching buildings with their distinctive orange Lok'nStore branded livery and prominent Lok'nStore signage create highly visible landmarks which continue to be a big contributor of new business. Building work will follow completion of all relevant planning matters and will be funded by the respective owners of the properties. Store openings will be scheduled for 2018.
When developed these two stores will add around 100,200 sq. ft. of trading space. This takes the current pipeline of 5 stores to 253,500 sq. ft. adding 19.6% to the existing trading space of 1.29 million sq. ft. after the opening of the Broadstairs store in May 2017. The 2 stores will increase the managed store portfolio by 33.2% and bringing the total number of managed stores to 10 out of a total of 31 stores.  
Lok'nStore will generate a return on these stores by charging management fees for the acquisition, branding and operation of the stores based on revenue and profits. These projects continue to fulfil Lok'nStore's strategy of expanding the operating footprint of the business by developing both managed stores and owned stores while maintaining its strong balance sheet. 
These sites add to our pipeline of 4 new landmark stores announced last year of which Broadstairs opened in May 2017, and Hemel Hempstead, Gillingham and Wellingborough are on target to open in late 2017 and in Spring 2018 respectively. All are in prominent retail locations with little established competition.
Andrew Jacobs, CEO of Lok'nStore said:
"These excellent new locations add to the recent rapid growth in our pipeline of stores.  Our objective remains to grow by both acquiring more sites to build new landmark stores for Lok'nStore's own balance sheet and to increase the number of stores we manage under the Lok'nStore brand for third parties. In continuing to execute our strategy we will deliver a predictable growth in dividends for investors from an increasing number of stores underpinned by a strong asset base and conservatively geared balance sheet".
-Ends-

A further two new landmark stores
RNS
RNS Number : 2004N
Lok'nStore Group PLC
07 August 2017
 
 
Lok'nStore Group plc
("Lok'nStore" or "the Company")
Two more new landmark stores acquired expanding the development pipeline
Further to the announcement of two new stores on 24 July 2017, Lok'nStore, the fast growing self-storage Company, is pleased to announce the acquisition of two more new landmark stores.
The two sites are in highly prominent locations in Bedford, Bedfordshire and Dover, Kent. The Bedford store will be owned by Lok'nStore while the Dover store will be developed and operated on a management contract.
Lok'nStore will develop these 2 new sites as purpose built landmark stores. These eye-catching buildings with their distinctive orange Lok'nStore branded livery and prominent Lok'nStore signage create highly visible landmarks which continue to be a big contributor of new business. Building work will follow completion of all relevant planning matters. Store openings will be scheduled for 2018.
When developed these two stores will add around 84,800 sq. ft. of trading space. This takes the current pipeline to 7 stores with 338,300 sq. ft. of new capacity, adding 26.1% to the existing trading space of 1.29 million sq. ft. after the opening of the Broadstairs store in May 2017. The Dover store will increase the managed store portfolio by 8.6% and bring the total number of managed stores to 11 out of a total of 33 stores.  
Lok'nStore will generate a return on the Dover store by charging management fees for the acquisition, branding and operation of the stores based on revenue and profits. These projects continue to fulfil Lok'nStore's strategy of expanding the operating footprint of the business by developing both managed stores and owned stores while maintaining its strong balance sheet. 
These sites add to our pipeline of 4 new landmark stores announced last year of which Broadstairs opened in May 2017, and two additional sites announced in July 2017 at Exeter and Ipswich. Hemel Hempstead and Wellingborough are on target to open in late 2017 and Gillingham in Spring 2018.  Exeter and Ipswich will open towards the end of 2018. All are in prominent retail locations with little established competition.
Andrew Jacobs, CEO of Lok'nStore said:
"These excellent new locations add to the stores announced last week and our recent rapid growth in our pipeline of stores.  Our pipeline will now add 26.1% to our existing trading space.
"Our objective remains to grow by both acquiring more sites to build new landmark stores for Lok'nStore's own balance sheet and to increase the number of stores we manage under the Lok'nStore brand for third parties. In continuing to execute our strategy we will deliver a predictable growth in dividends for investors from an increasing number of stores underpinned by a strong asset base and conservatively geared balance sheet".
-Ends-

Finals http://www.moneyam.com/action/news/showArticle?id=5722155

Pre-close trading update
RNS
RNS Number : 4996E
Lok'nStore Group PLC
12 February 2018

12 February 2018
Lok'nStore Group plc ("Lok'nStore" or "the Company")
Pre-close trading update
"Further revenue and occupancy growth with six more landmark stores in development"
Lok'nStore, the fast growing self-storage Company, is pleased to provide the following update on trading in the first half of its financial year to 31 January 2018.
Building on a robust platform for rapid future growth in FY2017, trading in the first half of FY2018 continues to be strong with January 2018 delivering the highest ever level of new storage sales enquiries in a single month. In our core self-storage business, the first half like-for-like revenue was up 6.9% year-on-year. At 31 January 2018, self-storage unit occupancy was up 6.0% and price per let square foot was up 0.4% compared to the same date 12 months ago.
In line with our growth strategy of building more landmark stores, we opened our Gillingham Store last month and we recently acquired a new site in Bournemouth, Dorset, bringing the current pipeline to six stores. Our new landmark store in Wellingborough will open in March and we are in the early build stages at both Dover and Exeter. Bedford, Ipswich and Bournemouth are all in the design and planning stage. All of these new stores will be open by the end of FY2019.
Interim results will be announced on Monday 23 April 2018.
Andrew Jacobs, CEO of Lok'nStore said:
"We have delivered another strong trading performance in the first six months of this financial year, delivering a 6.9% growth in like for like* revenue in our core self-storage business.
"Trading at our new landmark stores in Broadstairs, Bristol, Hemel Hempstead and early trading at our Gillingham store has been excellent. This underpins our confidence that our strong pipeline of six more landmark stores will add further momentum to sales and earnings growth. All six stores are in prominent locations with large catchment areas that demonstrate the Company's ability to source high quality sites adding to future sales and earnings growth.
"Lok'nStore's successful execution of its strategy, pipeline of new landmark stores and strong balance sheet gives us confidence that the Company can continue to deliver future growth."
* All self-storage revenue and occupancy growth rates are like-for-like and year to year stripping out the effect of the closure of our Staines store in January 2017 and early trading in Gillingham.
. -Ends

Landmark Store Acquisition & Bank Facility Update
RNS
RNS Number : 3181F
Lok'nStore Group PLC
20 February 2018


20 February 2018

Lok'nStore Group plc ("Lok'nStore" or "the Group")

Landmark Store Acquisition & Bank Facility Update

Lok'nStore increases its existing Banking Facility to £50 million and announces another new landmark store acquisition.

Lok'nStore plc, the fast growing AIM listed self-storage Company, is pleased to announce an increase in its banking facility to £50 million, following the execution of a £10 million accordion. The increased facility will provide funding for site acquisitions and working capital to support the Group's ambitious growth plans.
The facility was originally agreed with The Royal Bank of Scotland plc in January 2016 and the term extended by two years in January 2017. This larger facility now runs until January 2023. The interest rate is set at the London Inter-Bank Offered Rate (LIBOR) plus a 1.40%-1.65% margin based on a loan to value covenant test (currently the margin is 1.40%). Bank covenants and margin are unaffected by this increase in the size of the facility. As at 31 July 2017, net debt was £17.4m, with a loan to value ratio of just 14%.
Lok'nStore is also pleased to announce the acquisition of a freehold site for a new landmark store in Leicester (subject to planning). The one acre site is in a highly prominent location opposite a major food retailer. The total investment of circa £8.5 million will be funded from cash flow and the extended bank facility. When open this store will add around 60,000 sq. ft. of trading space.
This site brings our total secured pipeline of new stores to 7 to add to our existing 28 trading stores. Further sites are under consideration as the Company pursues its growth strategy. Our new landmark store in Wellingborough will open in March and we are in the early build stages at Dover and Exeter. Bedford, Ipswich, Bournemouth and Leicester are all in the design and planning stage. All of these new stores will be open by the end of 2019.
Andrew Jacobs CEO of Lok'nStore Group said:
"The £10 million increase in our existing banking facility with its extremely competitive terms and flexible structure enables Lok'nStore to continue with its ambitious plans for growth funded from operating cash flow, existing cash and bank lending, whilst the balance sheet remains conservatively geared.
"This new Leicester site increases our secured pipeline of landmark stores to 7. All are in prominent locations with large catchment areas and little established competition and demonstrate the Company's ability to source high quality sites adding to future sales and earnings growth.
"Trading at our new stores has been excellent. These eye-catching buildings, with their distinctive orange Lok'nStore branded livery and prominent signage, create highly visible landmarks, which continues to be a big contributor of new customers."

Preliminary results

MIDAS SHARE TIPS UPDATE: Self-storage firm Lok'nStore is reaping the benefits of changing consumer and business norms
By Joanne Hart, Financial Mail on Sunday
Published: 21:58, 3 November 2018 | Updated: 11:46, 4 November 2018

Lok'nStore is another company reaping the benefits of changing consumer and business norms. Founded by chief executive Andrew Jacobs in 1995, Lok'nStore owns and operates self-storage units, with 29 stores up and running and a further 13 in the pipeline.
Midas recommended the shares at 307.5p in 2015. Today, they are 415.5p and City analysts think they are worth more than 600p.
In America, there are 9.3 square feet of self-storage space per person. Here, there is less than 0.7 square foot. US trends often wend their way to Britain and this is likely to be no exception.


People increasingly use self-storage because they have too much stuff and need somewhere to put it while they save for bigger homes. Companies use self-storage as a flexible way of keeping goods. Some use the sites to run small online businesses as well.


Whatever the reason, self-storage is a growing sector and Lok'nStore is doing well. Annual results posted last week showed a 34 per cent increase in profits to £5.3 million for the year to July 31, and a 10 per cent rise in the dividend to 11p
The numbers should continue to rise, particularly given that Jacobs plans to open so many new stores over the next few years – each site carefully chosen to accommodate local demand. The units have changed as well as the firm has focused on modern, attractive, purpose-built properties.
MIDAS VERDICT: Jacobs founded Lok'nStore more than 20 years ago, he remains deeply committed to the business and still owns 18 per cent of the shares. The company has upped its game in recent times but it is valued less highly on the stock market than its larger peers. That should change over the next couple of years, taking the stock price higher. This was a good investment in 2015. It is even better now.
Traded on: Aim Ticker: LOK

A good day.