We update our numbers post the group’s interims last month to account for i) presentation of Saracen disposal as a discontinued op. in FY19, ii) increased finance charges of £0.1m annualised from the debt facility extension, and iii) the decision to operate Ipswich as a freehold store (previously intended to be a managed). Our forecast changes are presented below. We remain buyers of LOK, seeing moderate upside relative to peers in the context of sound market fundamentals underpin
20 May 2019
Model updates post interims; maintain Buy
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Model updates post interims; maintain Buy
Lok'nStore Group plc (LOK:LON) | 815 65.2 1.0% | Mkt Cap: 268.1m
- Published:
20 May 2019 -
Author:
Kunal Walia -
Pages:
6
We update our numbers post the group’s interims last month to account for i) presentation of Saracen disposal as a discontinued op. in FY19, ii) increased finance charges of £0.1m annualised from the debt facility extension, and iii) the decision to operate Ipswich as a freehold store (previously intended to be a managed). Our forecast changes are presented below. We remain buyers of LOK, seeing moderate upside relative to peers in the context of sound market fundamentals underpin