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First Property FUM rises; sees pretax profit in line with expectations

By BFN News | 08:40 AM | Monday 16 April, 2018


Property investor and fund manager First Property said funds under management at the year-end rose 31% to £625m from £477m. The increase in funds under management was largely driven from new property investments in the UK. 'The group is trading well across the board. The growth of our fund management division continues unabated; third party assets under management have increased by some 45% over the last year and are set to continue to grow. Meanwhile the contribution from Group Properties provides a reliable and substantial flow of profits,' said Ben Habib, Group Chief Executive, First Property. The firm confirmed that profit before tax for the year to 31 March 2018 is expected to be in line with market expectations. At 8:40am: (LON:FPO) First Property Group PLC share price was 0p at 49.5p Story provided by StockMarketWire.com

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