Lok'nStore, Aureus Mining and Telit Communications

“Equities opened the week in positive territory, continuing the theme seen in Asia and on Wall Street with little in the way of corporate news to excite traders,” says AJ Bell Investment Director Russ Mould.

Fast-growing self-storage group Lok'nStore continues to see positive momentum with like-for-like revenues from its core business up 5.2% in the year to the end of July following increases in occupancy and prices. The group’s document storage arm is also seeing improved metrics with earnings doubling on the back of an 11.1% rise in revenues and a slight fall in costs. Lok’nStore is scheduled to open two landmark owned stores in Wellingborough and Gillingham, and two managed stores in Hemel Hempstead and Broadstairs, by the end of 2017, which will add further impetus to sales and earnings growth.

Aureus Mining’s shares plunged as its operations continue to be hampered by low equipment availability, which is having an adverse effect on unit mining costs. Aureus recently restarted processing operations at the New Liberty gold mine in Liberia but has been hit by unscheduled plant downtime as it works to resolve processing plant performance issues, testing and further optimisation activities. Aureus’s shares were down by more than 21% in early trading.

Industrial ‘internet of things’ specialist Telit Communications remains bullish about its full year figures despite first half pre-tax profits falling to $4.7m from $8.7m last time. Growth was held back by a slower ramp-up of the LTE Cat-1 product line due to unexpected delays in certification in the US. These certifications are now in place and Telit expects a strong second half and achieve double digit revenue growth.

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