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LoknStore

  • BY: Andrew Hore |
  • POSTED: 02/02/2010 |

Lok’nStore says that first half trading was “encouraging”

The self storage operator says that occupancy has grown by 10.2% over the year to January 2010. Average prices per square foot have increased 2.8% over the six months to January 2010. Insurance sales are increasing.

At 85.5p a share, Lok’nStore is valued at £22.9m. The company’s net asset value, after a property revaluation, was 207p a share at the end of July 2009. Even if deferred tax is subtracted, the NAV was still 166p a share.

Net debt was £24.8m at the end of July 2009.

Laxey Partners had built up a 4.59% interest in Lok’nStore in November 2009. The majority of the interest is held in the form of contracts for difference.

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