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Lok'nStore raises dividend as annual profit climbs on increased demand
StockMarketWire.com
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Self-storage company Lok'nStore raised its dividend after reporting a rise in profit for the year, led by increased demand.
For the year ended 31 July 2020, pre-tax profit rose to £4.7 million from £4.4m year-on-year as revenue rose 6.4% to £18.04 million.
The annual dividend was raised by 8.3% to 13 pence per share.
'This year Lok'nStore's revenue, profits and asset values all moved ahead and trading since the year end has been good,' the company said.
'14 new sites will add considerably to future sales and earnings growth, enabling further increases in dividends,' it added.
At 10:00am: (LON:LOK) Lokn Store Group PLC share price was +40p at 565p
Story provided by StockMarketWire.com
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