NAV and profit collapses at TCS as pandemic bites

Town Centre Securities - 123 Albion Street in Leeds

Net asset value (NAV) at Town Centre Securities (TCS) slumped 17.4% during the year to the end of June, despite efforts to realign its portfolio away from retail.

The group has also claimed the impact of Covid-19 has forced it to pay a reduced divided to investors for the first time in 60 years.

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