MLP Group delivers net profit of PLN 28.2m in Q3 2020

MLP Group has released consolidated financial results for the first three quarters of 2020, showing a net profit of PLN 149.3m, up 53 percent y-o-y. In the third quarter alone, net profit reached PLN 28.2m, compared with PLN 40.6m in the third quarter of 2019. Equity (net assets) rose 15 percent in the first nine months of 2020, to PLN 1.08bn, with gross investment property having grown by over 23 percent, to PLN 2.23bn. The Group’s strategic goal is business expansion in Poland and Germany and further growth in Austria and Romania. “The results we achieved in the period are very strong. So far, we have not observed any major impacts of the pandemic on our financial position or operations. We can also see that tenants’ interest in warehouse space remains considerable,” said Radosław Krochta, President of the MLP Group Management Board. “As expected, our German business is growing in importance. In the period under analysis, it accounted for one-third of ouraggregate net profit, and its contribution is expected to increase. Among the projects we have recently started is a modern MLP Business Park Berlin,” he added.