Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Lok’nStore’s 15% uptick in dividends
Lok’nStore LON:LOK, the AIM listed self storage company, has published interim results for the six months to 31st January. Like for like revenues are up by 11%, the dividend has been increased by 15% and the sale of four stores last year has been used to bolster the balance sheet by around £37m. A further five new stores are set to be opened in the year ahead.
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#2. REACT’s repeat customers bolster margins
AIM listed specialist cleaning company REACT LON:REAT has issued a trading update covering the six months to 31st March. Revenues have close on doubled for the period from £5.1m a year ago to £9.3m, with improved margins being reflected in profitability metrics. Management are keen to point out the improved mix when it comes to repeat revenues, too.
#3. Frenkel Topping’s strong DFM performance despite macro headwinds
And keeping with AIM, financial services provider Frenkel Topping LON:FEN has results for the full year to 31st December out today. Revenues are up 35%, gross profits grew by 23% and there’s sufficient capacity to offer shareholders a very modest 1% uptick in dividends. Management note that the growth of the company’s discretionary fund management arm comes at a time of wider headwinds for the sector, and that overall EBITDA margins have been maintained at 25%.
