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Three Quick Facts: Lok’n Store, Mears, Distil


Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Lok’n Store latest name set to disappear in acquisition move

Another day, another round of M&A activity with Lok’n Store Group LON:LOK this morning notifying the market that it has agreed to an all cash offer from Shurgard Self Storage at 1,110p per share, a 16% premium on last night’s closing price.

Management believe that the offer presents significant value for shareholders and that the company will complement the activities of the acquiring party, given site locations and market positioning, although it should be added that the offer hardly comes with a knock-out valuation.

#2. 24% uptick in dividend at Mears

Services provider to the UK housing sector Mears LON:MER has this morning published results for the full year to 31st December. Revenues are 14% ahead but pre-tax profits have risen by 34%, with shareholders benefitting from a 24% uptick in dividends as a result. Management add that the momentum built in 2023 is carrying into the new year, with a strong bid conversion rate and pipeline.

#3. Difficult Q4 for Distil but annual performance remains robust

Premium spirits brand Distil LON:DIS has issued a Q4 trading update this morning, with the numbers reflecting the challenging environment for consumer discretionary spending along with the period typically being the most difficult for the sector anyway. This has been mitigated to some extent by increased sales in Q3 and also the fact that full year revenues are up by 17%.

The company has cash reserves in excess of £500k, continues to turn a gross profit and there’s optimism that new distribution agreements will also bolster sales.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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