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First Property keeps shining

The real-estate fund manager had a busy and highly profitable year in 2014-15.
June 12, 2015

True to form, real-estate fund manager First Property Group (FPO) put in a strong performance last financial year, justifying a 27 per cent increase in the final dividend to 1p.

IC TIP: Buy at 43.75p

Bolstered by the acquisition of six new properties in Poland and Romania, the group saw a 30 per cent increase in operating profit to £9.4m - a figure that would have been even higher but for a weakened euro. Chief executive Ben Habib remains unconcerned about currency headwinds, though, as First Property is not currently focused on selling its European portfolio.

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