Town Centre Securities (TOWN)

Sector:

Property Investment Trusts

Index:

FTSE Fledgling

85.50p
   
  • Change Today:
    -1.50p
  • 52 Week High: 232.00
  • 52 Week Low: 81.50
  • Currency: UK Pounds
  • Shares Issued: 53.07m
  • Volume: 7,384
  • Market Cap: £45.38m

Town Centre Securities reports positive trading

By Sean Farrell

Date: Monday 16 Jul 2018

LONDON (ShareCast) - (Sharecast News) - Town Centre Securities said it ended the financial year on a positive note as the property investor and car park operator traded in line with its expectations.


In the year to the end of June like-for-like passing rent rose 4.1% and occupancy fell to 95% from 99% from a year earlier, Town Centre said in a trading update.

The performance includes more rent from Leeds City Council for Merrion House, the council's main city centre office. Group occupancy fell because of a vacant unit in Milngavie, Scotland.

Leeds and Manchester, where the company owns the Piccadilly Basin development, make up almost three-quarters of Town Centre's portfolio with the rest in Scotland and London. The company is reducing its exposure to retail property, including the sale of a unit on Princes Street in Edinburgh for £3.3m.

Edward Ziff, chairman and chief executive, said: "We continue to make good progress against our strategic aims. The activity of the last 12 months reflects our strategy of continually improving the quality and sector mix of our portfolio for the long-term, whilst ensuring we have a balanced regional portfolio."

Town Centre said its CitiPark car parking business was achieving strong revenue and profit growth and that trading at its newer branches was improving. The company will report annual results on 26 September.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TOWN Market Data

Currency UK Pounds
Share Price 85.50p
Change Today -1.50p
% Change -1.72 %
52 Week High 232.00
52 Week Low 81.50
Volume 7,384
Shares Issued 53.07m
Market Cap £45.38m

TOWN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
54.38% above the market average54.38% above the market average54.38% above the market average54.38% above the market average54.38% above the market average
16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average
Price Trend
88.98% below the market average88.98% below the market average88.98% below the market average88.98% below the market average88.98% below the market average
84.21% below the sector average84.21% below the sector average84.21% below the sector average84.21% below the sector average84.21% below the sector average
Income
22.89% above the market average22.89% above the market average22.89% above the market average22.89% above the market average22.89% above the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average
Growth
74.76% below the market average74.76% below the market average74.76% below the market average74.76% below the market average74.76% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TOWN Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Dec-20 28-May-20
Paid 05-Jan-21 26-Jun-20
Amount 1.75p 3.25p

Trades for 30-Oct-2020

Time Volume / Share Price
12:23 7,384 @ 84.50p

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