First Property Group's shares rise as full-year profit seen in line
Shares in First Property Group rose as it said its full-year pre-tax earnings, prior to the profit on sale of the Romanian property last month, are seen to be in line with market views.
Financial Services
15,999.21
17:14 04/10/24
First Property Group
14.50p
16:50 04/10/24
FTSE AIM All-Share
738.36
16:54 04/10/24
It said funds under management at the end of the year totalled £475m, from £353m in 2016, of which some £313m (65%) were client funds, up 60% from the previous year.
Chief executive Ben Habib said First Property Group was 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," he said.
The contribution from Group Properties provided 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."
At 11:51 GMT, shares in AIM-traded First Property Group were up 0.95% to 53p each.