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FPO First Property Group Plc

18.90
0.00 (0.00%)
28 Mar 2024 - Closed
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 Trading Statement (9437K)

16/04/2018 7:25am

UK Regulatory


TIDMFPO

RNS Number : 9437K

First Property Group PLC

16 April 2018

 
 
 On behalf of:   First Property Group plc ("First 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 with operations in the United Kingdom and Central Europe, is pleased to announce that its profit before tax for the year to 31 March 2018 is expected to be in line with market expectations.

Funds under management at the year-end amounted to GBP625 million (2017: GBP477 million), an increase of 31% from the prior year. Of this some GBP454 million was held for clients (2017: GBP313 million), an increase of 45% from the prior year. Almost all of this increase resulted from new property investments in the United Kingdom.

The Group's Preliminary results for the year to 31 March 2018 are scheduled to be announced on 8 June 2018.

Ben Habib, Group Chief Executive, First Property said:

"The Group is trading well across the board. The growth of our fund management division continues unabated; third party assets under management have increased by some 45% over the last year and are set to continue to grow. Meanwhile the contribution from Group Properties provides a reliable and substantial flow of profits.

"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: +44 (20) 7340 
                                           0270 
 Ben Habib (Chief Executive Officer)      www.fprop.com 
  George Digby (Group Finance Director)    investor.relations@fprop.com 
  Jeremy Barkes (Director, Business 
  Development) 
 
 Arden Partners (NOMAD & Broker)          Tel: +44 (20) 7614 
                                           5900 
 Chris Hardie (Director, Corporate 
  Finance) 
  Ben Cryer (Corporate Finance) 
 
 Redleaf Communications (PR)              Tel: +44 (20) 3757 
                                           6865 
 Robin Tozer / Lizzie Cowell              firstproperty@redleafpr.com 
 

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 eleven funds which are invested across the United Kingdom, Poland and Romania.

-- 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 nine other funds managed by FPAM.

Listed on AIM the Company has offices in London, Warsaw and Bucharest. 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

TSTZMGMDGFNGRZZ

(END) Dow Jones Newswires

April 16, 2018 02:25 ET (06:25 GMT)

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