First Property Group posts 12% jump in FY profit, reinstates dividend
First Property Group posts 12% jump in FY profit, reinstates dividend
Overview
UK property fund manager's preliminary full-yr profit before tax rose 12.2% yr/yr
Diluted EPS for the year increased 10.4% to 1.81p
Company reinstated dividend with proposed final payout of 0.25p per share
Outlook
Company says economic and market conditions remain challenging but is seeing investment opportunities
Company says outlook is positive despite market challenges
Result Drivers
BLUE TOWER RENTAL INCOME - Increased rental income at the group's directly owned Warsaw office property, Blue Tower, was a main driver of underlying profit growth
PROPERTY DISPOSALS - Recorded profit of £1.18 mln from the sale of two directly owned properties (UK and Romania) boosted profit before tax
COST SAVINGS - Lower overheads due to cost-saving measures implemented in the prior year contributed to improved profitability
Company press release: ID:nRSY6482Ja
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY EPS |
| GBP 0.02 |
|
FY Net Debt |
| GBP 6.04 mln |
|
FY Pretax Profit |
| GBP 3.40 mln |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)