22nd Jun 2023 11:35
First Property Group PLC - London-based property fund manager and investor - Posts revenue of GBP7.2 million for year ended on March 31, down 25% from GBP9.6 million the year before. Pretax profit is down by 65% to GBP2.5 million from GBP7.1 million, as operating profit decreases to GBP2.0 million from GBP6.1 million the year before. Basic earnings per share drops to 1.73 pence from 6.14p a year earlier. Declares total dividend of 0.50p per share, unchanged from a year prior.
Chief Executive Officer Ben Habib says: "These are a creditable set of results in extremely challenging times. The end of lockdowns should have ushered in a more normal trading environment. Instead, we are experiencing the severe impact of broken supply chains and labour markets. Together with the war in Ukraine, the result has been rocketing inflation and a concomitant increase in interest rates."
Current stock price: 25.10 pence each, down 3.5% at
12-month change: down 16%
By Xindi Wei, Alliance News reporter
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