1st May 2019 11:09
LONDON (Alliance News) - Property fund manager and investor First Property Group PLC said Wednesday its pretax profit for the year to the end of March is expected to beat market expectations, set at GBP6.8 million.
Pretax profit for the prior year was at GBP9.2 million.
Funds under management as at March 31 rose by 13% to GBP705 million from GBP626 million the same date the year before. Of this number, GBP611 million was held for clients, up 35% from GBP454 million.
"The group is trading well across the board. The markets in which we operate are generally buoyant and offering interesting investment opportunities on which we hope to capitalise," said Chief Executive Ben Habib.
Shares in First Property Group was up 8.4% at 51.50 pence on Wednesday.
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