Lok’nStore has reported continued strong trading in H1 (to January 2020) with sales up +5.3% and EBITDA +6.4%. Trading since the lockdown has softened, but April revenue will still be up on last year and all the stores remain open. Reflecting the resilience of the model, operating cash flows and the strength of the balance sheet, the group’s progressive dividend policy continues and the interim dividend has been raised by 9%. We continue to believe the shares materially undervalue
27 Apr 2020
Lok'nStore - Dividend growth supported by resilient model
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Lok'nStore - Dividend growth supported by resilient model
Lok'nStore Group plc (LOK:LON) | 1,108 -55.4 (-0.5%) | Mkt Cap: 364.3m
- Published:
27 Apr 2020 -
Author:
Guy Hewett -
Pages:
7
Lok’nStore has reported continued strong trading in H1 (to January 2020) with sales up +5.3% and EBITDA +6.4%. Trading since the lockdown has softened, but April revenue will still be up on last year and all the stores remain open. Reflecting the resilience of the model, operating cash flows and the strength of the balance sheet, the group’s progressive dividend policy continues and the interim dividend has been raised by 9%. We continue to believe the shares materially undervalue