First Property Group
Consistent performer still looking good
By Michael Crockett
First Property Group issued a Trading Statement this morning (Monday 18 April), announcing that its trading and profit before tax for the year to 31 March 2016 are expected to be in line with expectations. This small property group has been one of AIM’s most consistent performing shares over the last few years. So, can this good run continue?
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First Property Group (AIM: FPO) http://www.fprop.com/ Introduction First Property Group (FPG) is a property investor and property fund manager with interests in Poland, Romania and the United Kingdom. Its focus is on commercial property although in recent years it has taken advantage of Permitted Development Rights legislation in the UK to convert offices for residential use. A significant percentage of the Group’s income is derived from fund management fees - in 2015 40% of its Operating Profit came from fund management fees with the remainder from the Group’s own investment returns. FPG’s investments and management properties are located in the…