Lok'nStore Group Plc (LON:LOK) shares rose on Monday as it described its trading as strong.
Self-storage revenue was up 6.3% in the twelve months ended July 31, while occupancy was up 5.9% and price per square foot was down slightly.
Trading in during the “full lockdown” period was described as subdued though the company said May, June and July was stronger.
READ: Lok'N'Store extends debts to fund expansion
New enquiries and move-ins at an all-time high in July, the company said.
"Against the current unsettled economic circumstances Lok'nStore's trading remains resilient with 6.3% growth in self-storage revenue and occupancy up 5.9%,” said Andrew Jacobs, Lok’n’Store chairman.
“We continue to execute our objective to open more landmark stores whilst remaining conservatively geared with landmark stores in Gloucester, Oldbury and Leicester now open and the Salford store due to open early next year.
He added: “With our modest gearing, valuable property assets and strong and growing cash flow the Group will continue to execute its current growth strategy as the economy returns to normal.”
In London, LOK shares rose 25p or 4.31% to change hands at 605p.