StockMarketWire.com - First Property reported a rise in profit in the first half of the year, led by growth in its fund management division.

For the six months to 30 September 2019, pre-tax profit rose 8.0% to £2.98m on-year as adjusted net asset value was up 3.8% to 59.65p a share from 57.48p a share reported at the end of March.

The company said the uptick in profit was led by increased contribution from its fund management division and Chałubinskiego 8, one of the two office towers in Warsaw owned by the group.

Total assets under management stood at £698m, down from £706m at the end of March. The interim dividend was raised by 2.3% to 0.45p a share. At 10:03am: [LON:FPO] First Property Group PLC share price was -1.25p at 40.5p



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