Lok’nStore is pleased to announce that trading in the second half of the financial year to 31 July has been robust, recovering strongly from the challenging economic conditions prevailing in the first half of the year.
In each of the last six months occupancy has seen a month on month increase, recovering earlier falls, and is now up 2% year-on-year. Average revenue per square ft, which was softer in the winter, is also rising again.
The Group has a strong asset backed balance sheet. Net debt of £25 million is well supported by a banking facility of £40 million which runs until 2012.