NAV per share increased by +11% (our forecast +6%) to 533p in FY 2019 and EBITDA grew by +12% (our forecast +8%) as both existing and new stores traded well. There are 8 new stores in the secured pipeline that will take the portfolio to 42 stores and another 6 progressing through legals. With the UK market still undersupplied, the outlook for value creation from both the existing stores and potential new ones remains very strong. We have raised our NAV-based target price to 697p from 617p, fa
04 Nov 2019
Lok'nStore - Sales, EBITDA and asset values up at double-digit rates
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Lok'nStore - Sales, EBITDA and asset values up at double-digit rates
Lok'nStore Group plc (LOK:LON) | 1,115 111.5 0.9% | Mkt Cap: 366.8m
- Published:
04 Nov 2019 -
Author:
Guy Hewett -
Pages:
10
NAV per share increased by +11% (our forecast +6%) to 533p in FY 2019 and EBITDA grew by +12% (our forecast +8%) as both existing and new stores traded well. There are 8 new stores in the secured pipeline that will take the portfolio to 42 stores and another 6 progressing through legals. With the UK market still undersupplied, the outlook for value creation from both the existing stores and potential new ones remains very strong. We have raised our NAV-based target price to 697p from 617p, fa