jonwig1
24 Feb 2016
Re: Bullseye? No,off centre. The dividend is stuck because of ongoing development work financed largely from existing funds. Redeveloping the Merrion Centre was absolutely essential (if you know Leeds, you won't need telling why), and Leeds, being fast-growing is crying out for more modern properties: hotels, offices, and - yes! - car parks. I do have two concerns; one, why didn't they leave London alone?, and two, that the property cycle might peak early leaving them a bit stranded. The high debt (LTV) doesn't worry me at present, as a big chunk is the 2031 debenture.
paddington_bear
24 Feb 2016
Bullseye? No,off centre. So after yesterday's unexplained 7.5% drop in share price to around year lows at 280p, half year results today reveal steady progress across the board and an NAV up to 359p, increasing the gap even more to the share price.If you were being hypercritical you could say that loan to value stuck at 49% and still no rise in dividend sum were negative features. It is fine for management to crow about their various successes and praise where it is due, but in the final analysis have my shares and dividend combined gone up this year? Hold for now, watching bigger picture of some commercial property weakness growing as world credit availability tightens.PB.
TX2
24 Feb 2016
Results All seems to be progressing steadily!(as usual).
TX2
23 Feb 2016
Re: what happened there? Tomorrow I think.There is a problem for property companies generally re proposed changes in taxation in that they will be restricted in the amount of interest they can set against gross profits(EDITDA) that are allowable against corporation tax.This could increase taxation & hence reduce profits for companies that have fairly high borrowings(and hence high deduction of interest).I am not a taxation expert but it may affect Town Centre.Perhaps the matter will be clarified.
bonanzo
23 Feb 2016
Re: what happened there? results are due out shortly...don't be alarmed. it will bounce back up.
CASTLEFORD TIGER
23 Feb 2016
what happened there? 10% fall ??tiger
CASTLEFORD TIGER
12 Oct 2015
break out to a new high 350p could be here very soon.tiger
CASTLEFORD TIGER
17 Sep 2015
Re: results will be good on the way.NAV 344P and a further 10 million plus to add with Merrion C uplift.Much more to come with one property 80% let and rented at 800k valued at 8 million.Far too soft.I can see 400p nav by this point next year.Tiger
CASTLEFORD TIGER
16 Sep 2015
results will be good expecting 320 close tomorrow.tiger
KEEPING CALM MIKE
30 Jul 2015
Re: Infographic comparing TCSC and MKLW Interesting , simplywall is new to me , how did you come across this link, are you a subscriber ?Thanks for posting,
jonwig1
30 Jul 2015
Re: Infographic comparing TCSC and MKLW mce - I don't want to be negative, but I don't really like the fact that they rate companies with no difference between one sector and another: so engineers, retailers and property companies are analysed in the same way.They describe TCSC's debt level as worrying, forgetting that the debenture is due in (I think) 2035.Also, eps doesn't work with propcos, as profits are both rent and unrealised gains. The latter fluctuate like mad and can even become losses in a perfectly healthy business!
mcescher
30 Jul 2015
Infographic comparing TCSC and MKLW Good Town Centre Securities / A&J Mucklow Group plc comparison. Has analysts estimates of EPS which is interesting. [link]
CASTLEFORD TIGER
26 Jun 2015
TCS bring MARCO home [link] more good news for the company!Tiger
CASTLEFORD TIGER
28 May 2015
more good news WOMEN'S clothes retailer Select has opened a store in Leeds' Merrion Centre, creating 10 jobs.The 3,500 sq ft store is Select's ninth Yorkshire shop out of 162 nationwide.Helen Green, associate director for centre owner Town Centre Securities, said: “As well as maintaining all of our founding stores it is important for us to continue to develop our portfolio in line with our core demographic shopper. We are keen to continue to offer our customers variety.“
KEEPING CALM MIKE
07 May 2015
Never to late to join the party Been watching this stock on and off for a while, and now on board.Should have bought in earlier ,but still happy to get in under £3 today. Whitehall Rd development looks good, K.C.M.
