First Property Share Discussion Threads

[mathisvale] 24/11/2007 09:51

USS is a major shareholder of the the company that is managing its funds. This is not surprising but interesting if they make more money from their shareholding than their funds, and it is quite possible that they will.

This brings to mind a nice little formula for a cash rich investor, ie
1. Find a small well managed co that is desparate for cash and the share price is low
2. Buy loads of shares from disillusioned investors
3. Lend the co the cash that it needs
4. Wait for 5 years
5. Get your loan back (+ interest) and sell your multi-bagged shares

All you need to be is a large cash rich investor - easy really !!!

[powwow] 22/11/2007 14:59

First Property Group profits swell on UK exit and Poland drive
Published: 10:51 Thursday 22 November 2007
By David Campbell, Investment Reporter

AIM-listed building management group First Property has benefited from transferring the focus of its property portfolio from the UK to central and eastern Europe.

In the six months to the end of September profits before tax shot up 167% on the same period of 2006 to £1.6 million.

Assets under management rose from £90 million to £240 million. Approximately 85% of the portfolio by number and value in Poland.

'I would love to be able to say that we saw the credit crunch coming and decided to exit the UK,' said Ben Habib, chief executive and founder of First Property.

'But the truth was that we could not find anything worth buying. For the last two years, commercial property in the UK has been in a position that it hasn't been since 1989 where rental yield has been less than the cost of interest.'

Another 9% of the portfolio was in Romania, while only 6% was positioned in the UK, although 47% of the group's overall income continued to be derived from its British operation.

The company is currently planning another £20 million in Polish acquisitions with lending of around 60% loan-to-value capped at 4.5%.

Despite benefitting from capital growth in the last six months, Polish assets were yielding around 7% and 8% on investment said Habib, who said an overseas emphasis would remain.

'I constantly hear UK property managers saying that the downturn is due to sentiment,' said Habib. 'I think it has little to with sentiment and everything to do with mathematics.

'At the moment we would have to see rents rise by up to 40% to make a return to the UK worthwhile and while there are pockets of growth I just cant see it happening.'

First Group shares were trading 1.5% up in early trading at 19.5p valuing the company at £21.31 million.

[trasenster] 22/11/2007 10:44

yet another set of great results and still ignored by the market.

[leedskier] 22/10/2007 12:25

LONDON (Thomson Financial) - First Property Group PLC said results for the
year ending March 31, 2008, are likely to be significantly ahead of current
market expectations, and said its property trading and facilities management
businesses are continuing to perform well.
The company said its asset management activities are continuing to develop
successfully, particularly in Poland, where the property market, partly due to
the favourable macroeconomic environment, seems to be largely unaffected by the
recent credit crunch.
The company said the investment market remains favourable and the value of
its existing portfolio of property assets under management increased
substantially to 238 mln stg during the six months to Sept 30.
The company will announce its first-half results on Nov 22.
[e-mail]
ans/slj

[dorset64] 22/10/2007 11:08

I take it from the number of posts so far, this is deffinately one that is off peoples radar as of yet. Think the impending results will have a good effect on the share price and am looking soon to open further T20's.

Dorset

[mgstone] 22/10/2007 10:31

very quietly developing a sound business without much notice just yet.

[trasenster] 22/10/2007 10:22

agreed. A well run company showing good steady and consistent growth.
Perhaps they are just too modest and too low profile?

[mathisvale] 22/10/2007 09:16

It is really bad luck to issue an upbeat trading statement on a day when everything is being marked down.

[dorset64] 04/8/2007 18:44

Hi guys, Totally forgot about this share until I received my set of accounts through the post today.

How do I find out what my current holding is, and as I had forgot about these, I don't even know whther or not I still have my certificate. I originally bought into these at the Hanson stage and am obviously interested to know how much I now own.

Many thanks in advance for any help from anyone on here.


Dorset

[dorset64] 03/8/2007 19:35

Hi guys, Totally forgot about this share until I received my set of accounts through the post today.

How do I find out what my current holding is, and as I had forgot about these, I don't even know whther or not I still have my certificate. I originally bought into these at the Hanson stage and am obviously interested to know how much I now own.

Many thanks in advance for any help from anyone on here.


Dorset

[oregano] 06/6/2007 16:07

huge volumes the day before the impressive results today. does anyone know what was going on?

[poundsdown] 04/6/2007 23:13

Sure thing.

[mathisvale] 04/6/2007 20:34

This stock reminds me of Imprint a few years ago, when the price was idling along at 40p. The potential was there for all to see, but the BB was deathly quiet and I spent most of the time talking to myself.

I eventually sold out between 250p and 300p

Deja-vu ? I hope so

[lion kid] 29/5/2007 09:31

LONDON (Thomson Financial) - First Property Group faired well this morning, up 1-1/4 pence at 21-1/4, after news the Universities Superannuation Scheme has doubled its investment mandate with the company to a 100 mln stg commitment in the USS Fprop Managed Property Portfolio.

The property asset manager also said it has entered into a forward commitment to buy a retail centre, which is to be built in Bytom, Poland, for about 47 mln stg.

The company added that it has started 2007 strongly. [e-mail] jb1/vjt

[mathisvale] 29/5/2007 08:59

The latest news re the doubling of funds for investment by USS is a tremendous vote of confidence for FPO. It will also boost FPO's profits, because they get management fees and a small cut of the fund's profits.

This must be one of the darkest horses on AIM. Profits will be roaring ahead over the next few years and the interest and investor activity is almost nil - amazing !!!

[theophilus] 14/5/2007 09:48

14 May 2007
First Property Group plc
("Fprop" or "the Company")

GROWTH OF ASSET MANAGEMENT DIVISION CONTINUES WITH Euro90 MILLION OF ACQUISITIONS
AND FSA REGISTRATION

First Property Group plc (AIM: FPO), the property asset manager, announces that
following the acquisitions detailed below it has increased assets under
management by 68% from Euro132 million (#90 million) in November 2006 to Euro222 million (#151 million).

The Company has acquired on behalf of the funds it manages three office blocks
in Poland, Romania and the UK, with an aggregate value of some Euro90 million (#61 million). The properties are all well located for their use class and should earn a high running rate of return, having been acquired on yields of between 6.8% and 7.7%, as well as offering potential for capital gain. The properties are respectively let to Prokom Software SA, one of Poland's leading listed companies, Millennium Bank S.A. and Cadbury Schweppes plc.

As previously disclosed the Company is concentrating its activities on Central
and Eastern Europe. The acquisition of the property in the UK, let to Cadbury
Schweppes plc, was therefore an exception for the Company, the purchase of which was concluded because it offers exceptional active management potential.

FSA Registration
The Company also announces that it has succeeded in its application to the
Financial Services Authority for registration.

The Part IV FSA registration allows Fprop to raise, and subsequently manage,
funds directly from the public, rather than solely from institutional and
professional investors. Fprop will now be able to access funds from a broad
range of investors and structure a wide variety of investment vehicles,
including publicly quoted investment companies, unit trusts as well as regulated and unregulated investment schemes.

Commenting, Ben Habib, chief executive of First Property Group, said: "Fprop's
asset management activities have grown considerably over the past couple of
years and continue to perform well. At our interim results we had over #90
million under management, which was 275% over the previous year's figure. With
the acquisition of these three properties, we now have over #150 million under
management, a further increase of over 68% in less than six months. We are also in the latter stages of negotiating a number of other opportunities, which will again increase the Company's assets under management, and expect to be able to make an announcement as such in the near future.

"On account of the high values of properties in the UK, we made the decision in
June 2005 to concentrate our efforts in Central and Eastern Europe. As a result
of this and our emphasis on expanding our asset management activities, the Group undertook a major transformation of its business. That transformation is now complete, with the majority of the Group's profits derived from asset management and over 85% of our holdings in this region.

"The next logical step in Fprop's evolution was therefore to apply for the FSA
registration, allowing us to raise funds for and operate all types of investment vehicles. Receiving this approval is therefore a great step forward for the business which will allow us to deliver further value to our shareholders going forward.

"We look forward to announcing the Group's results on 6 June 2007."

For further information:
Ben Habib - Chief Executive Richard Sunderland / Rachel Drysdale
First Property Group plc Tavistock Communications
Tel: [phone] Tel: [phone]


Cheers

Th.

[trasenster] 02/5/2007 20:26

Large volume today

[poundsdown] 12/4/2007 00:55

Was that a tumbleweed blow past?

[mathisvale] 01/2/2007 15:11

"There have been almost nothing but buys since I climbed on board"

... sorry, I spoke too soon

[bugs bunny] 30/1/2007 11:53

I've been in this one since the days of Hanson.......Its been along time for me and now it's good to see them moving.

[mathisvale] 30/1/2007 09:03

I am a new investor in this company (2 days ago). There have been almost nothing but buys since I climbed on board

The attractions for me are :-
1. The management appear to be honest, hungry and talented. I like that combination.
2. The potential income from growing fund management (see SYG)
3. The company is small
4. The BB is relatively quiet, ie few investors are aware of this co. (yet)
5. The share price is cheap, compared to its potential
6. The share price is on a rising trend

[miss womble] 29/1/2007 15:13

Like mangal I have held these since early 2005 and topped up at various times including today. Unfortunately I have no idea why they have risen today and furthermore they started to rise immediately after the first purchase of 10000 shares, not a lot of dosh to change the share price The market is awfully thin but the MMs must have heard that something is going on. The shares of course are still a steal considering their fantastic results last year. It is just possible that a statement is on its way and someone has had a preview. Just a thought. Best wishes MW

[mangal] 29/1/2007 14:07

I have been buying these for over a year for prices ranging from 14 to 20p. This is the first time the share price has topped 20p since I first bought in Sep05. So, yes, why the sudden jump ?

[johspr] 29/1/2007 13:49

anyone know what is going on today? I've had these for 3 years and hugely rising profits and dividends have never moved share price out of its inertia!

[miss womble] 29/1/2007 12:42

Started to move at long last.It must be time to push the boat out further. The acceleration in share price should be exponential until it at least reaches a reasonable level.