First Property Group PLC Fprop retains No.1 ranking in MSCI CEE Benchmark
11 Mayo 2020 - 01:00AM
RNS Non-Regulatory
TIDMFPO
First Property Group PLC
11 May 2020
Date: 11 May 2020
On behalf of: First Property Group plc ("First Property",
"the Company" or the "Group")
Embargoed: 0700hrs
First Property Group plc
Fprop retains its No.1 ranking in MSCI CEE Benchmark
First Property Group plc (AIM: FPO), the property fund manager
and investor, is pleased to announce that it has retained its
position as the best performing fund manager versus MSCI's Central
and Eastern European (CEE) Benchmark, now for the fourteen years to
31 December 2019.
Rental income was the main driver which contributed to the
result. The Group consistently generated the highest income return
versus the Benchmark over three, five, seven, ten and fourteen
years since the commencement of its operations in Poland in
2005.
MSCI is a leading provider of research-based indexes and
analytics. Performance is determined strictly in accordance with
MSCI's globally defined data standards and performance measurement
procedures, and is based upon independently verified direct real
estate investment performance.
Commenting on the result, Ben Habib, Chief Executive of First
Property Group, said:
"Ranking as the best performing fund manager over 14 years in
MSCI's Central and Eastern European Benchmark is further evidence
that our policy of investing in sustainably higher yielding
commercial property delivers consistently higher returns over the
long term.
"With Group cash of GBP25 million and markets weakening again we
expect to be making a number of new investments alongside our
clients over the next couple of years."
First Property Group announced last week the sale of their
controlling share in the CH8 tower in Warsaw, on 27 April, and the
signing of a new long-term let at a warehouse it owns in Tureni,
Romania on 29 April.
-Ends-
For further information please contact:
First Property Group plc Tel: +44 (20) 7340
0270
Ben Habib (Chief Executive Officer) www.fprop.com
George Digby (Group Finance Director) investor.relations@fprop.com
Jeremy Barkes (Director, Business
Development)
Liam Deacon (Media & Marketing Manager)
-------------------------------
Arden Partners (NOMAD & Broker) Tel: +44 (20) 7614
5900
-------------------------------
John Llewellyn-Lloyd (Director, Corporate
Finance)
Ben Cryer (Corporate Finance)
-------------------------------
Newgate Communications (PR) Tel: +44 (20) 3757
6880
-------------------------------
Robin Tozer / Tom Carnegie firstproperty@newgatecomms.com
-------------------------------
Notes to Investors and Editors :
First Property Group plc is an award winning property fund
manager and investor with operations in the United Kingdom and
Central Europe. Its focus is on higher yielding commercial property
with sustainable cash flows. The company is flexible and takes an
active approach to asset management. Its earnings are derived
from:
-- Fund management - via its FCA regulated and AIFMD approved
subsidiary, First Property Asset Management Ltd (FPAM), which earns
fees from investing for third parties in property. FPAM currently
manages thirteen funds which are invested across the United
Kingdom, Poland and Romania.
-- Group Properties - principal investments by the Group to earn
a return on its own capital, usually in partnership with third
parties. Investments comprise eight directly held properties in
Poland and Romania, and non-controlling interests in ten of the
thirteen funds managed by FPAM.
Listed on AIM the Company has offices in London, Warsaw and
Bucharest. Around one third of the shares in the Company are owned
by management and their families. Further information about the
Company and its products can be found at: www.fprop.com .
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END
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