StockMarketWire.com - Self-storage company Lok'nStore Group posted a 19% increase in first-half profit as lifted prices and unit occupancy rates.

Pre-tax profit for the six months through January was £2.5m, up from £2.1m in the previous corresponding period.

Revenue rose by 5.7% to £8.8m, as occupied unit pricing rose 0.4% on a like-for-like basis and unit occupancy rose 6.0%.

The company declared an interim dividend of 3.33p per share, up 11% on-year.

'With strong trading and reduced costs Lok'nStore's profits and margins continue to grow rapidly,' chief executive Andrew Jacobs said.

'We are using our robust balance sheet to invest in the future growth of the business building more new landmark stores in a structurally under-supplied market.'


At 2:40pm: [LON:LOK] Lokn Store Group PLC share price was -5p at 405p



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