An interim dividend of 1.75p per share (HY20 3.25p) will be paid by Town Centre Securities as a property income distribution and will amount to £0.9m. It will be paid on the 25 June 2021 to shareholders registered on 28 May 2021. The final dividend for 2020 of 1.75p was paid on the 5 January 2021.
Other financial highlights include:
Net assets:
o Resilient like for like portfolio valuation down only 0.8% from June 2020
o Statutory net assets of £152.0m or 286p per share down 2.3% (FY20: £155.5m, 292p). EPRA net tangible assets ('NTA') measure introduced at £147.8m or 278p per share (FY20 equivalent: 285p)
Profits and earnings per share:
o EPRA Earnings before tax of £0.2m (HY20: £4.1m), driven by an estimated £3.2m COVID-19 impact
o EPRA earnings per share of 0.4p (HY20: 7.7p)
o Statutory loss before tax of £3.5m (HY20: loss of £0.2m) and statutory loss per share of 6.6p (HY20: loss of 0.4p), including the unrealised £2.5m portfolio valuation and impairment movement (FY20: £26.4m)
Capital and financing:
o £41.2m of targeted retail asset sales during the first half has reduced absolute borrowing levels 20% to £147.6m at December 2020 (pre IFRS16 measure) (30 June 2020 £183.6m)
o Loan to value of 48.6% as at 31 December 2020 (FY20: 53.2%)
o Headroom of £12.8m at half-year end based on December 2020 borrowings and valuations (FY20: £14.8m)
