(MENAFN- ProactiveInvestors - UK) Property fund manager First Property (LON:FPO) saw the value of the directly owned portfolio rise by 6% in its latest trading year.
The group, which splits its portfolio between the UK (44%), Poland (51%) and Romania (5%), saw the directly owned book value rise to 134mln in the year to March in markets it described as ''generally buoyant''.
Funds under management overall rose by 8% to 353mln, though profits were 9% lower at 7.4mln as teh euro weakness against sterling cost some 671,000 versus the previous year.
Ben Habib, chief executive, said the group had benefited from a full year of contributions from the investments made by it and subsidiary Fprop Opportunities in the previous financial year.
The dividend for the year rises by 11.5% to 1.115p.
''The markets in which we operate are generally buoyant and offer interesting investment opportunities which we hope to capitalise on in due course,'' added Habib.
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