UK's Town Centre Securities posts half-year loss on portfolio valuation decline

Town Centre Securities

26/03/2026 07:13

Overview

UK property investment and car park operator's half-year revenue remained resilient amid challenging conditions

Statutory loss before tax for the half-year reflects portfolio valuation reduction

Company acquired a retail property in Central London and invested in a US residential fund

Outlook

Company says resilient trading performance has continued into the second half of FY26

Town Centre Securities to focus on core operations and bringing forward developments

Company says it will explore new acquisitions but will maintain robust finances

Result Drivers

PORTFOLIO VALUATION REDUCTION - Co said a 1.2% like-for-like decline in portfolio value, reflecting market sentiment around the UK economic outlook, weighed on results

CAR PARK BUSINESS GROWTH - Underlying car park business operating profit rose, driven by technology-enabled parking management system rollout

NEW INVESTMENTS - Acquisitions in Central London retail and a US residential fund increased borrowings and loan-to-value ratio

Company press release: ID:nRSZ1670Ya

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 7.99 mln
H1 Net Income
-GBP 1.37 mln
H1 EBIT
GBP 3.53 mln
H1 Net Asset Value
GBP 108.90 mln
H1 Pretax Profit
-GBP 325,000


Analyst Coverage

The one available analyst rating on the shares is "strong buy"

The average consensus recommendation for the commercial reits peer group is "buy."

Wall Street's median 12-month price target for Town Centre Securities PLC is GBp160.00, about 37.9% above its March 25 closing price of GBp116.00

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 18 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)