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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 0.0% 26.00 25.00 27.00 26.00 26.00 26.00 31,222 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 8.6 7.1 6.1 4.2 29

First Property Share Discussion Threads

Showing 701 to 725 of 1200 messages
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DateSubjectAuthorDiscuss
23/11/2016
10:08
Yeah, decent results. Surprised its down a little. same old adage, patience will be rewarded
thecroots
23/11/2016
09:43
catstick,

I'm not sure that all the profits are recurring as you suggest above. There is a list of 4 non recurring things in the report including this:

Foreign exchange gains – the Euro was on average some 12% stronger versus Sterling
during the period at €1.217 (2015: €1.386). This resulted in Group profit before tax
being £620,000 higher than if on a constant currency basis;

Nice to see so many positive non-recurring items though. Most of the companies I follow seem to have to report the opposite. I agree these are very decent results and the share price continues to struggle to keep up with the ever increasing underlying value.

blobby
23/11/2016
09:07
So, forecasts for the year are £7.2m, they just reported £4.5m of PBT in H1, which is all recurring bar about £0.3m. So given the rising FUM H2 must > H1. Even if it is only equal, we get PBT of £8.7m, so a 21% upgrade. And that is before the further £0.5m currency upgrade you get given if you market the average currency to the year end. I wouldn't worry about the small sell off, trading at NAV and generating swathes of cash each year. this should be on a material premium.
oregano
23/11/2016
08:35
Decent results , I dont see why the shares are weaker today, the results are now all recurring profits rather than one offs and by the end of the financial year aum in the asset mgmt side of the business will be close to 500m and growing very fast, also the fact that a reit market is slated to be created could give a very profitable exit from the polish assets at some point with a fat fee annuity... All looks pretty decent, maybe things will perk up after this presentation and if simon thompson writes up later in the week
catsick
20/11/2016
14:35
Interims on Wednesday, could be a run up the next couple of days, the falling pound will have helped Euro earnings - maybe news of new investment.

Something of an under the radar share on AIM, but nevertheless a progressive profile.

tintin

9tintin
10/10/2016
13:26
it is definitely a tip, 16 trades since midday, no trade today over £7k in value. the upside comes from having a wider following when good news is released, further pension fund wins, currency upgrades for e.g.
oregano
10/10/2016
13:04
Almost 6% up today, at one point hit 52p, but I can't find any news to explain it. Not a fresh Simon Thompson tip, no RNS... weird. Anybody got a clue?
simonsaid1
10/10/2016
11:35
However I am also mindful that we don't blind one another in this thread - we also need to think of the drawbacks so an opposing view would be very welcomed.
jimmywilson612
10/10/2016
11:18
Feel like FPO is in a sweet spot at the moment & markets are finally waking up to this.

86% of profits is from assets they own, I believe all are in Poland or Romania? SO the price of these assets & profits are going up due to the exchange rates. Pension funds seeing property as a good way to increase their yields and FPO having a successful history in managing these investments.

Ben seeing assets in the UK as a good buy after Brexit.

Lots of different parts of the business but feel they are all in a good market at the moment.

I had a target of circa 55p but might need to up my target!

jimmywilson612
10/10/2016
09:43
Lots of small trades going through. Feels like another Monday morning tip. rare to see a half penny spread in FPO.
oregano
03/10/2016
08:08
interesting win - no mention of this at the AGM, it must have developed since. So it is in addition to the other new mandate of £70m they expect to win from a new name. More good news pending by the sound of things.
oregano
03/10/2016
06:45
Nice increase to the shipbuilding fund, Since the march yearend they have increased this fund by 50m gbp and now have headroom for another 50m so 100m increase in aum from just this customer, they should be close to 500m aum by yearend and this asset management business is priced by the market at zero , should be worth at least 10p per share or more if aum keeps growing like this ....
catsick
30/9/2016
16:06
Here is the small I.C exert taken from the FPO website.

Investors Chronicle - Anomalously priced fund managers

Simon Thompson summarises: ‘Rated on a discount to spot net asset value, trading on just 8 times forward earnings…, and with significant upgrades highly likely in eight weeks’ time, the investment case is very solid. In the circumstances, I rate First Property’s shares a strong buy…ahead of November’s interim results and my initial target price is 56p, coinciding with the all-time high dating back to the end of last year. Buy.’

yupawiese2010
28/9/2016
15:28
oregano - Yes, Simon Thompson (Investors Chronicle) updated on FPO in his online column yesterday maintaining his +ve stance with a BUY reccommendation and 56p TP.
speedsgh
28/9/2016
14:49
JW - also discussed at the AGM, buying properties yielding 6% or gilts yielding 0.5%. Take your pick!

I assume this was tipped yesterday judging by the lunch time volumes and spike. but there appears to be a seller around keeping a lid on it.

oregano
28/9/2016
11:10
I have been hearing a lot about Pension Funds being in deficit over the past few months - This must be a growing market for FPO to target - These Pension funds need to generate higher yield before the difference gets too big - FPO have a history of successfully managing & purchasing assets which give a high yield.
jimmywilson612
26/9/2016
09:00
Yup, it is for a UK pension fund. I don't think the fee structure for pension funds are different by geography, it is that the returns are much higher for directly owned properties. they don't own any direct properties in the UK as they have existing funds with headroom to invest (so are conflicted).

I think the point to takaway is that whilst returns are higher for the direct investments, the larger and more diverse the 3rd party fund management becomes, the more likely the market is to separately value this component. And it would warrant a higher multiple than a property business which is valued against assets.

Albeit I don't think the market is that sophisticated when it comes to £50m mkt cap businesses! either way they are doing well operationally and likely to see upgrades, never a bad thing.

oregano
23/9/2016
18:21
oregano - Likewise many thanks for reporting back to us the proceedings from the AGM.

In respect of the potential future £70 million mandate, did Ben Habib give any indication if the mandate would be to invest funds into U.K or Poland / Romanian property market, the difference being we levy substantially far higher fees for the overseas market, than the U.K.

yupawiese2010
23/9/2016
09:49
Cheers for the update Oregano - Glad to hear things are all in working order.
jimmywilson612
23/9/2016
08:29
i went along to the AGM, along with 40 others.

The CEO stated that every cent decline in the Euro rate gives them an extra £80k of profit. they used 1.36 last year, currently 1.16. i make that a £1.6m boost to profit, a circa 20% upgrade.

He also stated they will have invested all the ship builders pension fund by the year end. that's another £40m of assets invested.

And they are close to winning mandates and investing another £70m of assets. He said the source of the cash is a well known investor, which would endorse their investment strategy. He described this as a step up for the business. He was very bullish.

So hopefully a bit more newsflow to come on the next few months. The interims will force the analyst to upgrade on currency.

oregano
23/9/2016
00:11
Not a lot said at the agm statement things going well and aum ticking up, I wonder if the chat after got some investors in a bullish mood seems to have supported the shares
catsick
20/9/2016
15:02
Pardon me - AGM statement Thursday.
oregano
20/9/2016
12:55
there is surely going to be a positive trading statement tomorrow. mechanical FX upgrades are a certainty and Ben wants property volatility to invest their funds.
oregano
20/9/2016
12:28
I don`t love FPO at the moment as it`s going down.
tyranosaurus
03/8/2016
19:40
You gotta love FPO, making money whether in recession, currency challenges either home or abroad.
dorset64
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