24th Sep 2025 14:28
(Alliance News) - First Property Group PLC on Wednesday said it expects its profit recovery to continue this year, after delivering results ahead of expectations in its last financial year and boosting cash through recent property sales.
The property fund manager and investor in UK and Central Europe reported profit before tax of GBP3.0 million for the year ended March 31, above market expectations. Chair Alasdair Locke told the annual general meeting that the group expects profits to be sustained in the current financial year.
He said the company has exchanged contracts for the sale of two properties in recent months, one in the UK and one in Romania, for a combined GBP4.1 million. After costs, the sales are set to lift free cash by GBP4.0 million and deliver around GBP1.2 million profit before tax.
Total funds under management at August 31 stood at GBP220 million, unchanged from March 31. Third-party funds under management rose to GBP172 million from GBP164 million, with about 35% invested in the UK.
First Property will report results for the six months to September 30 on November 27.
Shares in First Property were up 5.3% at 16.05 pence each in London on Wednesday afternoon.
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
First Property