First Property Group unveiled strong profit in its full-year results, underscored by surging earnings and continued asset expansion in Poland and Romania.The property fund manager, which operates in the UK as well as in central Europe, reported a 22.4% jump in pre-tax profit to £8.08m in the 12 months to the end of March, from £6.6m over the same period a year earlier.Earnings were driven by the expansion of its group properties, as well as its property fund management business.Six newly purchased properties in Poland and Romania contributed £2.3m to profit and are set to yield recurring profit before unallocated overheads and tax of just over £6m annually.The group has committed £125m to a new fund established on behalf of Shipbuilding Industry Pension Scheme (SIPS) in January, which will be the focus of UK efforts over the next decade.Chief executive office Ben Habib told Digital Look/Sharecast that while navigating the climate of quantitative easing (QE) in the context of new investments was challenging, it offered great sector-wide opportunity."The big challenge is identifying genuine value amid massive QE programmes, in which its difficult to assess how just how artificial low interests rates are. However, we believe they are unlikely to rise a lot, if at all in near term, making high yield professional property very attractive."Habib also said that the outcome of the general election served trade well: "A Labour-SNP coaltion would have been a disaster for the property market - we would have seen wholesale withdrawal from London with the proposed 'nom-dom' crackdown and the mansion tax."He continued: "Meanwhile, the Conservatives will cut unnecessary bureaucracy and foster flexibility, allowing us greater redevelopment potential. For example, if office rentals are weak, we can consider conversions to the private renting sector, student houses, even hotels."The group's net assets stood at £31m at the end of March, or 26.3p a share, up from £23.5m or 20p, while cash balances swelled to £12.2m, from £11.3m.Habib expressed a positive outlook for the coming year, citing underpinned earnings, a strong balance sheet and the growing economies of the business's operational territories.As of 12:30 BST, First Property Group was trading 11% higher at 44.7p.