UK's First Property returns to annual profit; shares rise

First Property

23/06/2022 09:51

** Shares of property fund manager First Property  FSTP.L 
up 3.3% at 31p 
    ** Posts FY pretax profit at 7.08 million pounds ($8.6 mln)
vs loss of 5.09 mln stg  urn:newsml:reuters.com:*:nASM000GN6 
    ** Says occupational demand is picking up from lockdown
induced lows, which should result in "commensurate increase" in
the value of its properties
    ** "Investment environment is volatile at present, but with
adversity comes opportunity and we are seeing some interesting
market movements" - Co 
    ** Including session gains, stock has fallen 4.6% YTD 


($1 = 0.8215 pounds)

 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))