- Lok'nStore Group's revenue rose by 3.7% to £16.65m in the year to the end of July - up 5.6% on a like-for-like basis.

Group adjusted EBITDA increased by 3.1% to £6.49m - LFL up 5.4% - an after-tax profits (adjusting for exceptional items) rose by 28.8% to £3.17m.

The group declared an annual dividend of 10p per share - up 11.1%.

Chief executive Andrew Jacobs said: 'We have created a strong platform for an exciting period of rapid growth for Lok'nStore increasing profits and assets and reducing our debt.

'Our adjusted net asset value per share has increased by 7.9% to £4.16 this year and we are raising the dividend by 11.1% to 10 pence per share making it the sixth successive year of substantial dividend growth.

'We have secured a notable increase in our new store pipeline to 11 stores which will add around 45% more space to our operation over the coming years. This will add yet further momentum to sales and earnings growth.

'Lok'nStore's strategy of opening new landmark stores gives us confidence that Lok'nStore can continue to deliver rapidly growing dividends for our investors.'

Story provided by