16th Oct 2024 19:31
Town Centre Securities PLC - Leeds, England-based property investor, car park and hotel operator - Net asset value improves to 284 pence per share from 277p, while like for like portfolio valuation is down 4.7% from June 2023. Says statutory pretax loss narrows to GBP8.0 million in the financial year ending June from GBP29.5 million a year prior. Revenue climbs 5.3% to GBP32.0 million from GBP30.4 million, administration costs rise to GBP7.3 million from GBP6.8 million. EPRA earnings before tax are GBP3.8 million, up from GBP3.1 million a year ago, benefiting from a tax credit of GBP1.7 million in the year. Pays no final dividend but a significant interim dividend makes the total dividend for the year 8.5p, up from 5.0p a year prior. Continues to explore opportunities to acquire assets in Leeds and Manchester; appetite to also make acquisitions in London. Further, says "resilient" trading performance has continued into the first half of financial 2025, with rent collections robust. Read More
