AGM Statement

First Property Group plc

AGM Statement

First Property Group plc (AIM: FPO), the property fund manager and investor with operations in the United Kingdom and Central Europe, will hold its Annual General Meeting (the "AGM") today at noon. The AGM is being held online via Investor Meet Company (https://www.investormeetcompany.com/first-property-group-plc/register-investor) and at the Company's head office in London.

At the meeting Alasdair Locke, Chairman of the board, will make the following statement:

"The Group has taken significant steps in recovering from the difficulties of the last few years of lockdowns and inflation. For the year ended 31 March 2025, it earned a profit before tax of £3.03 million, a significant out performance of the market's expectations.

"We expect this recovery in profits to be sustained for the current financial year.

"During the last couple of months, contracts have been exchanged for the sale of two Group properties, one of which is in the United Kingdom (being a property we acquired earlier this year) and the other in Romania. The combined sales consideration for these two properties was £4.1 million which, after sales costs, should increase the Group's free cash by £4.0 million. The profit before tax from these sales should amount to around £1.2 million.

"Total funds under management at 31 August 2025, including properties owned directly by the Group, amounted to £220 million (31 March 2025: £220 million).

"Third party funds under management at 31 August 2025 amounted to £172 million (31 March 2025: £164 million), of which some 35% was invested in the United Kingdom.

"The Group expects to announce its results for the six months ended 30 September 2025 on 27 November 2025."

-Ends-

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Notes to Investors and Editors:

First Property Group plc is a 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 eleven 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. These investments currently comprise five directly held properties in Poland, one in Romania, and non-controlling interests in nine of the eleven funds managed by FPAM.

Quoted on AIM, the Company has offices in London and Warsaw. Further information about the Company and its properties can be found at: www.fprop.com. To receive RNS alerts by email please subscribe here.