First Property (GB:FPO) has released an update.
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First Property Group PLC has announced that its expected trading profits for the fiscal year ending March 31, 2024, will align with market predictions, despite a necessary impairment of £3.7 million on its Gdynia property, leading to an overall financial loss. The impairment, reflecting a revision in the property’s value against its deferred payment liabilities, is a non-cash item and not indicative of the company’s operating performance. The company will release its full financial results on June 26, 2024, and host an investor presentation that same day.
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