Against a challenging retail sector environment and ongoing economic uncertainty, Town Centre Securities (TCS) delivered a robust underlying performance in FY19 while continuing to re-position its portfolio for the long term. Earnings and NAV were lower than in FY18 but the fully covered DPS was maintained, now held or improved in each of the last 59 years. Already below 50%, TCS plans to reduce retail and leisure exposure further and continue to recycle capital into more attractive opportuni
14 Oct 2019
Town Centre Securities - Accelerating portfolio repositioning
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Town Centre Securities - Accelerating portfolio repositioning
Town Centre Securities PLC (TOWN:LON) | 136 6.1 3.3% | Mkt Cap: 57.1m
- Published:
14 Oct 2019 -
Author:
Martyn King -
Pages:
16
Against a challenging retail sector environment and ongoing economic uncertainty, Town Centre Securities (TCS) delivered a robust underlying performance in FY19 while continuing to re-position its portfolio for the long term. Earnings and NAV were lower than in FY18 but the fully covered DPS was maintained, now held or improved in each of the last 59 years. Already below 50%, TCS plans to reduce retail and leisure exposure further and continue to recycle capital into more attractive opportuni