UK's Lok'nStore hits over 4-month low as co flags cost pressures

Lok'n Store

13/02/2023 09:27

** Shares of UK-based self-storage provider Lok'nStore Group
Plc  LOK.L  down as much as 5% at 914p, lowest in over four
months
    ** Co says operating costs rising on the back of Bank of
England base rate hikes
    ** Sees cost growth rate to reach normalised levels in "due
course"
    ** HY same store revenue up 10.3%; price/square foot rose
9.2%
    ** Peel Hunt analysts in a note say anticipated cost
pressures, increased debt service costs impacting co's top-line
growth
    ** Shares down 4% YTD as of last close, stock fell 5% in
2022
 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))