Archicom posts PLN 50.35 million net profit for H1 2024, focuses on residential projects

Archicom reported a consolidated net profit of PLN 50.35 million from continuing operations for the first half of 2024, a slight decrease from PLN 51.58 million in the same period last year. Net profit attributable to shareholders, including discontinued operations, stood at PLN 40.67 million, down from PLN 55.6 million a year ago.

The company, in a report by its Management Board, confirmed its strategic focus on residential development, following its cooperation agreement with Echo Investment. As a result, Archicom has exited commercial activities, which are now classified as discontinued.

Operating profit for the first half reached PLN 60.33 million, compared to PLN 63.13 million a year earlier. Meanwhile, consolidated sales revenues surged to PLN 325.31 million, up from PLN 219.41 million in the same period of 2023.

On a standalone basis, Archicom’s net profit for H1 2024 soared to PLN 165.62 million, a significant increase from PLN 30.95 million a year ago.

Archicom, a leading residential developer in Poland, has been listed on the Warsaw Stock Exchange (WSE) since 2016 and is part of the sWIG80 index. It operates under the umbrella of Echo Investment.

Source: Archicom and ISBnews
Photo: Flow, Archicom