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/

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