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/

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.