First Property Share News (FPO)

First Property taps into housing market with investment tie-up

Commercial property fund manager First Property Group (Fprop) is hoping to tap into the Government's support for the housing market and the impact this is having on the residential development market through a new partnership with clients of an unnamed global investment business. The closed-ended t

First Property Partners With Investment Business To Convert Offices For Residential Use

First Property Group To Convert Office Acquisitions To Residential Buildings

First Property Group reveals 13 per cent drop in profits

Commercial property fund management company First Property Group has revealed a 13 per cent decline in pre-tax profit for the six months ended September 30th. Profit before tax (from continuing operations) totalled £2.21m, down from £2.54m the same period the previous year, while assets under mana

First Property sells office building in Warsaw

First Property, the commercial property fund management group, has pocketed a tidy profit on the sale of one of its two directly owned properties, an office building in Mokotow, Warsaw. The company, which bought the building in November 2007, has raised PLN 11.95m - about £2.3m - from the sale whic

AuM down at First Property Group despite good trading

First Property Group, a commercial property fund management group, will say at Friday's annual general meeting that trading has continued well and in line with the firm's expectations, despite the difficult economic conditions. It's clients have also performed well, but the weakening euro has resu

First Property results show polish

Interim profits shot higher at commercial property fund management group First Property as it reaped the benefit of being heavily invested in its own funds. The Poland and UK-focused firm saw a 79% rise in pre-tax profit to £2.54m for the six months ended 30 September from £1.42m at the interim sta

First Property prefers Poland to London

Poland-focused property fund management group First Property is looking to kick on this year as the effects of recent purchases start feeding through to the bottom line. Profit before tax in the year to 31 March rose 13.0% to £2.95m from £2.61m the year before, despite much of the company's rents

First Property keen to increase Polish exposure

Commercial property fund management group First Property saw the strength of the euro put a dampener on interim profits. Revenue in the six months to 30 September rose to £5.03m from £4.80m the year before but profit before tax dipped to £1.32m from £1.56m a year earlier, partly as a result of a sh

Broker tips: JD Wetherspoon, First Property, EnCore

Charles Stanley Securities expects sales growth at JD Wetherspoon (JDW) as the group confidently moves from cash conservation into estate development. Analyst James Dawson antipates this increase through new site add-ons rather than like-for-like sales growth, although higher repairs are now deeme

Broker snap: First Property in pole position

Fund manager First Property has launched a new fund, Fprop Opportunity (FOP) to invest in commercial property in Europe, concentrating on Poland, in a move which house broker Arden sees as a step towards a simpler business model for the company. The fund will have a 10 year life and will focus on p

UK SMALLCAP ROUNDUP:F&C Opposes Commercial Property Trust Merger

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps F&C ASSET MANAGEMENT PLC (FCAM.LN) said Wednesday it is seeking to stop a commercial property trust it manages from merging with another, in a deal that

Broker tips: Cable and Wireless Comms, First Property

Cable and Wireless Comunications (CWC) went ex-div on Wednesday morning, resulting in a big fall, with the share price of the recently demerged telecoms firm not helped by Evolution Securities recommending its clients get shot of the shares. Though the broker acknowledges that the company's first s

Broker snap: First Property 'signicantly undervalued'

Full year results from UK and Central and Eastern Europe focused property fund manager First Property were slightly ahead of house broker Arden's expectations. The broker had pencilled in £2.7m for pre-tax profit, slightly below the £2.8m First Property delivered. "Overall, the trading outlook for

UPDATE: First Property Sees Earnings Growth As It Eyes UK Buys

(Adds executive comment) By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. property fund manager First Property Group PLC (FPO.LN) said Wednesday its earnings are set to grow again in its fiscal 2011 as it invests its new U.K. commercial property fund in retail propertie