First Property Regulatory News (FPO)

22 Oct 2007 07:00

First Property Group PLC22 October 2007 Date: 22 October 2007 On behalf of: First Property Group plc ("First Property" or the "Company") Embargoed until: 0700hrs First Property Group plc Trading Update and Confirmation of Results First Property Group plc (AIM: FPO), the AIM-listed property services groupspecialising in property asset management, today issues a trading update aheadof its interim results for the six months ended 30 September 2007 which will beannounced on Thursday 22 November 2007. As indicated in the Chief Executive's statement at the recent Annual GeneralMeeting in early September, the Company's asset management activities arecontinuing to develop successfully, particularly in Poland. The property marketthere, partly as a consequence of the favourable macroeconomic environment,appears to be largely unaffected by the recent credit crunch. Furthermore, theinvestment market remains favourable and the value of the Company's existingportfolio of property assets under management increased substantially to £238million during the period to 30th September 2007. The Company's property trading and facilities management businesses are alsocontinuing to perform well. As a result of the above, the Board of First Property believes that theCompany's results for the year ending 31 March 2008 are likely to besignificantly ahead of current market expectations. A further update will be provided in the Company's interim statement, on 22November 2007. Enquiries to: Ben Habib, Chief Executive www.fprop.comFirst Property Group plc Tel: 020 7731 2844 Chris Hardie, Corporate Finance Director chris.hardie@arden-partners.comArden Partners Tel: 020 7398 1639 Emma Kane / Adam Leviton al@redleafpr.comRedleaf Communications Ltd Tel: 020 7822 0200 Notes to Editors: • First Property Group plc was established in March 2000 by ChiefExecutive Ben Habib, to provide a number of property services which includeproperty asset management, property transaction underwriting and trading, andfacilities management. • The Company listed its shares on the Alternative Investment Market(AIM) in December 2000 with a view to fuelling further growth. • First Property Group plc is a property services group which consistsof the following core services: - Property Asset Management - established in August 2002 and provided by awholly owned subsidiary, First Property Asset Management Ltd (FPAM), now withoperations in the UK, Central and Eastern Europe; - Property Trading - established in August 2001 also provided by FPAM, now withoperations in the UK, Central and Eastern Europe; - Facilities Management - acquired 60% of First Property Services Ltd inFebruary 2006, with operations in the UK and clients including: Credit Suisse,Canary Wharf, the BBC, Coutts Bank and Exxon Mobil. • Further information about the company and its products can be foundat: www.fprop.com This information is provided by RNS The company news service from the London Stock Exchange