Revenue is up for Lok'nStore

Self storage company Lok'nStore has revealed a rise in revenue in an update on trading for the six months to January 31.

The company confirmed self storage revenue was up 4.9 per cent on last year, building on the last three years of significant revenue growth.

It said trading remains in line with the board's expectations.

Andrew Jacobs, Chair of Lok'nStore, said: "Trading in the first half of the 2024 financial year has been positive.

"We continue to deliver on our strategy of opening more new stores in the under supplied self-storage market. We have made significant progress on our new store pipeline with the Basildon store opening in December 2023, the Kettering managed store in February 2024 and two more stores due to open in 2024 in Staines and Bromborough. These new stores are anticipated to add further momentum to sales, earnings and net asset growth."