Develia Poland had a net profit of PLN 55.65 million

by   CIJ News iDesk III
2021-09-09   09:14

Develia recorded PLN 55.65 million of consolidated net profit attributable to shareholders of the parent company in the first half of 2021 against PLN 8.82m profit a year earlier, the company said in the report.

The operating profit amounted to PLN 68.05 million versus PLN 56.79 million profit a year earlier.

Consolidated sales revenues reached PLN 376.74 million in the first half of the year. 2021 compared to PLN 220.08 million a year earlier.

"The first half of 2021 was, in many respects, record-breaking in the development market. This period was also very successful for the Develia group. At the beginning of the year, we announced a new strategy, the main element of which is development in the residential segment and entering the PRS market. in the first half of this year, when we signed developer and preliminary agreements for 1,062 units, they confirm the rightness of the chosen direction," said president Andrzej Oślizło

In the first half of 2021, the developer sold 1,062 premises (an increase by 151% y / y) and handed over 757 premises (an increase by 57% y / y).

On a standalone basis, net profit in H1 2021, it amounted to PLN 100.29 million compared to PLN 227.28 million profit a year earlier.

At the end of June this year, Develia had PLN 483.7 million in cash and short-term financial assets.

Develia controls a group of special purpose development companies carrying out residential and commercial investments in the largest cities in the country. The company has been listed on the WSE since 2007. In 2020, it sold 1,361 residential and commercial premises.

Source: ISBnews
Photo: Develia