Simon Thompson explains his rationale for tipping First Property Group, describing it as “a classic value share with solid asset backing, decent cash generation to provide shareholders with a sustainable dividend and the board with funds to invest wisely, and potential for solid profit growth to drive an earnings multiple expansion.” He can “see potential for more upside too because with directly owned properties providing a solid recurring income stream to support the dividend, cash available for earnings accretive acquisitions, and mandate wins starting to build up new income streams, its prospects look well underpinned.”
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