First Property Share Price (FPO)

Tipped in IC today by Simon Thompson

'after factoring in the valuation uplift on the disposal of CH8, and the recent depreciation of sterling which enhances the sterling value of the high yielding overseas properties, I estimate First Property’s current net asset value (NAV) is 66p per share, or 10 per cent higher than at the end of September 2019 and 2.5 times the current share price. The shares also offer a dividend yield of 6.3 per cent, with the annual pay-out covered three times over by recurring net profits. '

Hello Bunker, Yes we are all at home in "our bunkers", my sense of humour.

I am 73 confined to barracks but have been in fpo from the start - it is so good to see it move up.

Good luck to you all

Roy

Anyone Home ?

This is a reply on twitter from fpo themselves

"@FpropPlc announced sale of its 50.3% share in CH8, an office tower in Warsaw at €4m premium to its recently assessed market value, generating £3m profit. Completion expected before 31/3/20 after which group cash should rise to £25m / 22p per share. See hxxps://t.co/FvLmwQrwHu."

"The sale was at a 10% premium to its last appraised value and should release €19.6m / £16.7m of net cash after tax and after repayment of the bank loan secured against the property."

For €44m and fpo market cap is only around £55.5m, I think the fpo has said 22p of fpo will be in cash after this sale.
In any case, very under valued and as always great deals just add more value every time.