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Saracen Document Storage supports Lok’nStore Group PLC to a record year!

Highlights

"Full year results up strongly - more growth from new stores and more new stores to come"

Record financial results ahead of expectations on all measures

• Revenue £15.42 million up 10.9% (2014: £13.91 million)

• Adjusted EBITDA1 £5.68 million up 23.1% (2014: £4.62 million)

• Operating profit2 £3.66 million up 18.7% (2014 normalised: £3.08m)

• Profit before taxation2 £2.65 million up 34.6% (2014 normalised: £1.97 million)

• Cost ratio reduced to 61.2%3 (2014: 64.7%).

Strong cash flow supports 14.3% dividend increase – progressive dividend policy

• Annual dividend 8 pence per share up 14.3% (2014: 7 pence per share)

• Funds from Operations (FFO) 4 £4.98 million up 25.2% (2014: £3.97 million)

• FFO per share of 19.6 pence per share up 22.1% (2014: 16.1 pence per share)

Asset backed: Adjusted Net Asset Value per share5 up 11.4% to £3.02 (2014: £2.71)

• Total assets now circa £100 million

Strong balance sheet, efficient use of capital, low debt

• Net debt down to £25.3 million (2014: £25.5 million)

• Loan to value ratio down to 25.8%6 (2014: 28.2%)

Self-storage business performing strongly

• Store EBITDA £7.197 million up 18.6% (2014: £6.06 million)

• Store EBITDA margins up 3 percentage points to 53.7% (2014: 50.7%)

• Unit Pricing up 4.2%

• Total occupancy up 0.6% with 57,203 sq. ft. of new units fitted

• Ancillary sales up 6.3%

Document storage showing good volume growth

• Year-end boxes stored up 36.2%

• Revenue £1.96 million up 6.5% (2014: £1.84 million)

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