Fprop in the News

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18 Nov 2020

Ben Habib on the ‘Share Talk’ Podcast

First Property Group CEO Ben Habib on the Share Talk Ltd podcast.

He said: “We’ve got £21m sitting in the bank and we will deploy that along with our client money to find assets that we think are undervalued or have real growth potential coming out of the pandemic.”

06 Nov 2020

Daily Express: Fprop CEO Calls for Business Rates Reform

Writing in The Daily Express, Fprop CEO Ben Habib renews his calls for business rates reform to aid retail and hospitality.

“Unless action is taken soon, ministers will be directly responsible for a wave of failed firms and redundancies when the rates ‘holiday’ ends,” he says.

16 Oct 2020

Ben Habib: Covid is an opportunity to scrap business rates altogether

Fprop CEO Ben Habib argues that Business Rates tax reform is needed to help tenants, landlords, and the economy during the Coronavirus crisis. 

He writes in City AM: “By its nature, the burden of this tax falls hardest on startups, small companies, and businesses experiencing difficulties. They have little income and often have to bear this tax out of capital — which is also, more often than not, scarce.”

Adding: “Calls for change are growing louder, and will reach a shriek when the March rates reintroduction takes its damaging hold. But by then it will be too late. The government must act now, and act boldly.”

09 Oct 2020

Investors Chronicle Podcast: Fprop share valuation ‘crazy’

Fprop shares were discussed by Simon Thompson and Investors Chronicle Editor John Hughman on “The Alpha Podcast: Bargain hunting.” Listen here from 7:29 to 10:26. 

Thompson says: “Not all companies are actually doing badly… You can stock pick investment opportunities amongst the rubble… This valuation is absolutely crazy…”

05 Oct 2020

Investors Chronicle: “A free ride on profitable businesses”

Simon Thompson covers our shares in Investors Chronicle. He highlights our high rent collection rates and argues that Fprop shares should be worth more. 

He says: “Trading on a 36 per cent discount to net asset value (NAV), and offering a prospective dividend yield of 5 per cent, First Property’s long-term record of value creation for shareholders – the company has posted annualised growth in net assets (including dividends) of 22.7 per cent over the past decade and paid out cumulative dividends of 13.32p a share since I included the shares, at 18.5p, in my 2011 Bargain Shares Portfolio – is completely at odds with the miserly valuation. Buy.”

23 Sep 2020

Fprop Annual General Meeting: Watch Back Online

Our Annual General Meeting (AGM), held today, can be watched back on the Investor Meet Company website.

The accompanying RNS statement can be viewed by clicking here. The key points were continued high levels of group cash, a maintained dividend, and rent collection rates well above 90% in the UK, Poland, and Romania, despite challenges linked to coronavirus.

29 Jul 2020

Presentation: Fprop’s Prelim Results with Ben Habib Q&A

This informative presentation on our preliminary results for the year to 31 March 2020 was given by management and CEO Ben Habib on June 25, 2020.

To make sure you are invited to our next presentation held via Investor Meet Company, please sign up for the service here. A PDF of the report can be found here.

09 Jul 2020

PODCAST: Fprop Chief Exec Discusses Investment Future

Fprop CEO Ben Habib appears on “Market Musing with Fairbairn and Russell podcast. They discussed Interest rates, investment, and the success of Fprop.

Mr Habib said: “I do think [interest rates will stay low]… there is not a central bank in the developed world that wants anything other than ultra-low interest rates.”

Listen to the full episode by clicking here.

29 Jun 2020

Investors Chronicle: Bargain shares opportunities

Writing in the Investor’s Chronicle, Simon Thompson says he is “not concerned” by the “modest decline” in year-end net asset value (NAV), as this partly reflects the revaluation of several group properties which have still proved very strong investments. 

He also points towards our multiple income streams and relatively high recent rent collection rates, particularly in the UK, which points towards “the quality of tenants who account for two-thirds of third-party funds.”

Thompson concluded: “The company has generated annualised growth in net assets (including dividends) of 22.7 per cent a year over the past decade, the primary reason why the shares have produced a 155 per cent total return since I included them in my 2011 Bargain Shares Portfolio.

“On a modest price/earnings (PE) ratio of 9.5, offering a 4.5 per cent dividend yield, and on a 33 per cent discount to NAV, the shares remain on my buy list.”

25 Jun 2020

VIDEO: Fprop’s 2020 Prelim Results, Highlights and Key Points

First Property Group plc (AIM: FPO), the property fund manager and investor with operations in the United Kingdom and Central Europe, today announces its preliminary results for the twelve months ended 31 March 2020. 

18 May 2020

Ben Habib, First Property Group: Contracts must be respected. Otherwise everything will fall like a house of cards

First Property Group Chief Executive Ben Habib gives an interview to Polish retail news specialist Retailnet.pl, in which discusses the recent economic and health crisis. 

“The Polish government must be praised for how it handled the current crisis,” he says. “They reacted quickly, and help was directed primarily to those sectors of the economy that suffered the most.”

18 May 2020

Market Musings: Podcast No.26 with Ben Habib from First Property Group

Chief Executive Ben Habib appeared on the Market Musings with Fairbairn & Russell podcats, to discuss his career in business and the history of the company

“Since 2007, First Property Group… has had a cumulative growth in net assets of 25 percent per annum… from the peak of the last boom to the current position,” he told the presenters.