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Lok'n Store Sees Increased Earnings for Six Months Ended Jan. 31


EBITDA (earnings before interest, taxes, depreciation and amortization) for U.K. self-storage operator Lok’n Store Group increased 14.5% to £1.45 million for the six months ended Jan. 31, 2010. Revenue rose1.8 percent to £5.19 million, and operating profit surged 77 percent to £438,058.
"Lok'nStore has performed well in difficult economic conditions, and we are encouraged by current business," the company issued in a statement, saying it would continue to focus on growing cash flow from the existing portfolio by increasing occupancy and revenue and controlling costs.

An interim dividend of 33 pence per share has been recommended, compared to no dividend for the same period a year earlier.
Source: ShareCast, Lok'n Store H1 EBITDA rises 15%

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