NAV at TCS falls as retail CVAs bite

Edward (left) and Ben Ziff of Town Centre Securities

Net asset value (NAV) at Town Centre Securities (TCS) dropped 7.8% in the year to the end of June as the group attempted to reduce its retail exposure and focus on less volatile assets.

NAV per share came in at 354p, from 384p last year, while pre-tax profit was down 7.9% to £6.4m as retail CVAs and new investments hit the bottom line. 

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