Town Centre Securities plc (TCSC.L), a property development and investment firm, in an interim management statement for the period from July 1 to November 14, said the investment portfolio’s performance has met the expectations. However, the company remains cautious due to the uncertain economic environment.
The company said for car parking division, like-for-like revenues rose by almost 10 percent in the first quarter. Void levels for the period stood at 2 percent with rent collection within 5 days of due date over 99 percent, it added.
Looking ahead, the company expects to augment its property portfolio and car parking business through more acquisitions. However, Edward Ziff, Chairman, said, “The current economic environment remains uncertain and our view remains cautious.”
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by RTT Staff Writer
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