Town Centre Securities (GB:TOWN) has released an update.
Town Centre Securities PLC reported a resilient performance for the year ending June 2024, despite a 4.7% decline in property portfolio valuation due to macro-economic factors. The company successfully executed a NAV-enhancing tender offer and focused on active asset management and development, leading to improved underlying earnings and robust rent collection. With reduced borrowings and a diverse asset portfolio, TCS is well-positioned to pursue development opportunities and potential acquisitions in key markets.
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