First Property, the commercial property fund management group, has pocketed a tidy profit on the sale of one of its two directly owned properties, an office building in Mokotow, Warsaw.
The company, which bought the building in November 2007, has raised PLN 11.95m - about £2.3m - from the sale which, after accounting for transaction costs and foreign exchange gains, resulted in a profit of around £0.12m for the company. The sale will not have any material bearing on the group's earnings for the current financial year, which ends on March 31st, 2013.
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