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FPO First Property Group Plc

18.90
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
First Property Group Plc LSE:FPO London Ordinary Share GB0004109889 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 18.90 18.80 19.00 18.90 18.90 18.90 50,511 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 7.25M 1.92M 0.0173 10.92 20.96M

First Property Group PLC Financial year-end trading statement (9960B)

10/04/2017 7:00am

UK Regulatory


TIDMFPO

RNS Number : 9960B

First Property Group PLC

10 April 2017

 
 Date:        10 April 2017 
 On behalf    First Property Group plc ("First 
  of:          Property", "the Company" or the "Group") 
 Embargoed:   0700hrs 
 

First Property Group plc

Financial year-end trading statement

First Property Group plc (AIM: FPO), the property fund manager and investor, is pleased to announce that its trading and profit before tax for the year to 31 March 2017, prior to the profit on sale of the Romanian property announced on 28 March, are expected to be in line with market expectations.

Funds under management at the year-end amounted to GBP475 million (2016: GBP353 million), of which some GBP313 million (65%) were client funds, an increase of 60% from the prior year.

The Group's Preliminary results for the year to 31 March 2017 are scheduled to be announced on 8 June 2017.

Ben Habib, CEO of First Property Group plc, said:

"The Group is trading well across the board. Our fund management division has entered a new growth phase, with third party assets under management increasing by some 60% over the last year, and set to continue to grow. Meanwhile the contribution from Group Properties provides a reliable and substantial flow of profits (amounting to a pre-tax income return on equity invested exceeding 20% per annum at current market values, and substantially higher at book cost).

"The markets in which we operate are generally buoyant and offering interesting investment opportunities on which we hope to capitalise."

-Ends-

For further information please contact:

 
 First Property Group plc        Tel: 020 7340 
                                  0270 
 Ben Habib (Chief Executive      www.fprop.com 
  & Chief Investment Officer) 
  George Digby (Group Finance 
  Director) 
  Jeremy Barkes (Director, 
  Business Development) 
 
 Arden Partners                  Tel: 020 7614 
                                  5900 
 Chris Hardie/ Ben Cryer 
 
 Redleaf Communications          Tel: 020 7382 
                                  4747 
 Henry Columbine/ Rebecca        firstproperty@redleafpr.com 
  Sanders-Hewett/ Susie Hudson 
 

Notes to Investors and Editors:

First Property Group plc is an award winning property fund manager and investor with operations in the United Kingdom and Central Europe. Around one third of the shares in the Company are owned by management and their families.

Its focus is on higher yielding commercial property with sustainable cash flows. The company is flexible and takes an active approach to asset management. Its earnings are derived from:

-- Fund management - via its FCA regulated and AIFMD approved subsidiary, First Property Asset Management Ltd (FPAM), which earns fees from investing for third parties in property. FPAM currently manages ten funds which are invested across the United Kingdom, Poland and Romania. FPAM funds rank No.1 versus MSCI's IPD Central & Eastern Europe (CEE) universe for the ten years from the commencement of its operations in Poland in 2005 to 31 December 2015, and for the annualised periods from 2005 to the end of each of the years between 31 December 2008 and 31 December 2015.

-- Group Properties - principal investments by the Group, to earn a return on its own capital, usually in partnership with third parties. Investments include ten directly held properties in Poland and Romania (including five held by Fprop Opportunities plc [FOP], in which the Group is currently the majority shareholder), and interests in six other funds managed by FPAM.

Listed on AIM the Company has offices in London and Warsaw. Further information about the Company and its products can be found at: www.fprop.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTDBGDSIDGBGRC

(END) Dow Jones Newswires

April 10, 2017 02:00 ET (06:00 GMT)

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