Lok’nStore increases dividend

Self-storage group Lok’n Store raised its annual dividend by 20 per cent to 6p per share yesterday after it posted a rise in sales and profits. The company reported a 1.6 per cent rise in revenues to £13m in the year to 31 July compared with the previous year, while pre-tax profits rose to £1.4m from £926,000. Andrew Jacobs, chief executive, said: “Lok’n Store is trading well with increased occupancy driving cash flow per share and growth in net asset value.”