First Property rises on supermarkets sale in Poland for $6.5 mln

First Property

07/12/2022 14:23

** Shares of UK property fund manager First Property
 FSTP.L  up as much as 6.4% at 25p 
    ** Sells two supermarkets in Poland for 6.2 mln euros ($6.5
mln) on behalf of funds managed by the group, in which it has
about 89% interest
    ** Says pre-tax profit earned on these disposals, after
deducting sales costs, is around 780,000 euros 
    ** Adds that cash released from the sale will further
strengthen its finances
    ** Including session's gain, stock has fallen ~23% YTD 
($1 = 0.9494 euros)
 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))