Jun 25, 2020 / 09:30AM GMT
Jeremy Barkes - First Property Group plc - Director of Business Development
Well, the highlight for last year was really the sale of CH8 in Warsaw. That was the largest directly held asset that First Property Group had. And we made a profit of about GBP 1.5 million on the sale of that property, but that wasn't really the crucial aspect of that sale. The crucial aspect was that it released GBP 17 million of cash into our balance sheet. And that puts us in a fantastic position to navigate the pandemic and the ensuing economic problems that the United Kingdom, I think, in particular, is going to face, though Poland, of course, won't be entirely immune. And that cash gives us enormous buying power, and we would expect to emerge from this crisis actually stronger than we went into it, having been able to, I suspect, pick up some good property investments or route.
And we've maintained our final dividend, which actually means that for the full year, shareholders have had a slight increase in dividend compared to the prior year, 1.67p per share versus 1.66p per share, and I am very proud of that. We held
Full Year 2020 First Property Group PLC Earnings Call Transcript
Jun 25, 2020
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