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Lok'nStore ups dividend after core earnings rise in H1
StockMarketWire.com
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Self-storage company Lok'nStore raised its dividend after reporting higher core earnings in the first half of the year thanks to a climb in revenue.
For the six months to 31 January 2021, adjusted earnings before losses or profits on disposal, share-based payments, acquisition costs, exceptional items, finance income, finance costs and taxation, or EBITDA profit was up 17.3% to £5.5 million as revenue rose 13.9% to £10.21 million.
The interim dividend 4.33 pence per share was up 8.25% year-on-year.
'We have added to our new store pipeline which increases operating space by 38% to over 2.5 million sq. ft. over the coming years,' the company said.
'We opened our new Leicester store in August and our new Salford store after the period end,' it added.
Story provided by StockMarketWire.com
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