AGM Statement
FY25 profit before tax £3.03m, outperforming expectations; two property sales totalling £4.1m exchanged.
vs expectations: ahead
- Profit before tax (FY25) £3.03 million
- Combined sales consideration for two properties £4.1 million
- Profit before tax from sales around £1.2 million
- Free cash increase from sales (after costs) £4.0 million
- Total funds under management (31 August 2025) £220 million
- Third party funds under management (31 August 2025) £172 million
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| Date: | 24 September 2025 |
| On behalf of: | First Property Group plc ("First Property", the "Company" or the "Group") |
| Embargoed: | 07.00am |
First Property Group plc
AGM Statement
First Property Group plc (AIM: FPO), the property fund manager and investor with operations in the United Kingdom and Central Europe, will hold its Annual General Meeting (the "AGM") today at noon. The AGM is being held online via Investor Meet Company (https://www.investormeetcompany.com/first-property-group-plc/register-investor) and at the Company's head office in London.
At the meeting Alasdair Locke, Chairman of the board, will make the following statement:
"The Group has taken significant steps in recovering from the difficulties of the last few years of lockdowns and inflation. For the year ended 31 March 2025, it earned a profit before tax of £3.03 million, a significant out performance of the market's expectations.
"We expect this recovery in profits to be sustained for the current financial year.
"During the last couple of months, contracts have been exchanged for the sale of two Group properties, one of which is in the United Kingdom (being a property we acquired earlier this year) and the other in Romania. The combined sales consideration for these two properties was £4.1 million which, after sales costs, should increase the Group's free cash by £4.0 million. The profit before tax from these sales should amount to around £1.2 million.
"Total funds under management at 31 August 2025, including properties owned directly by the Group, amounted to £220 million (31 March 2025: £220 million).
"Third party funds under management at 31 August 2025 amounted to £172 million (31 March 2025: £164 million), of which some 35% was invested in the United Kingdom.
"The Group expects to announce its results for the six months ended 30 September 2025 on 27 November 2025."
- Group properties - principal investments by the Group to earn a return on its own capital, usually in partnership with third parties. These investments currently comprise five directly held properties in Poland, one in Romania, and non-controlling interests in nine of the eleven funds managed by FPAM.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.