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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 £8.0 million in the financial year ending June from £29.5 million a year prior. Revenue climbs 5.3% to £32.0 million from £30.4 million, administration costs rise to £7.3 million from £6.8 million. EPRA earnings before tax are £3.8 million, up from £3.1 million a year ago, benefiting from a tax credit of £1.7 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.
Current stock price: 138.20 pence
12-month change: up 18%
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