(Sharecast News) - First Property Group reported a strong performance for the first half of its financial year on Thursday, despite challenges in the property market.
The AIM-traded property fund manager and investor said it benefited from one-off gains, including profits from property trading within one of its managed funds, in which First Property holds an associated investment.
It also received fees earlier-than-expected from a managed fund after property disposals were completed ahead of schedule.
As a result, First Property said it now anticipated that its full-year profit before tax would exceed current market expectations, while revenue was expected to align with forecasts.
However, the final results could be influenced by potential non-cash adjustments to property valuations.
The company said it would release its interim results for the six months ended 30 September on 21 November.
At 1558 GMT, shares in First Property Group were up 11.43% at 15.6p.
Reporting by Josh White for Sharecast.com.


(Alliance News) - First Property Group PLC on Tuesday said it has had "a successful year", as it guided full-year profit ahead of market expectations....


(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately report...


(Sharecast News) - First Property Group reported higher interim profit despite continued market pressures on Thursday, as asset values improved and th...


(ShareCast News) - The biggest barrier for two-thirds of small and medium sized building firms was the lack of available land, according to a new indu...


(ShareCast News) - With Shire shares almost £20 short of last year's all-time high, the drug developer's chairwoman, chief executive and a clutch of s...