MLP Group posts net profit of PLN 121m in H1

MLP Group has released consolidated financial results for the first half of 2020. The group’s net profit for the period came in at PLN 121m, up 75 percent y-o-y. As net profit for the first quarter of 2020 was PLN 113m, the second quarter saw the group’s bottom line increase by PLN 8m. Equity (net assets) rose 12 percent to PLN 1.05bn in H1, with gross investment property jumping by 20 percent to PLN 2.16bn. “We consider our first-half financial results solid. The economic downturn caused by the pandemic had no major impact on our operations. We completed all projects on schedule, delivering almost 100,000 sqm of new space. We have also signed a number of reservation agreements to purchase new land for planned logistics parks in Poland, Germany and Austria. We continue to manage business as usual. Germany, which has quickly recovered after the lockdown, remains the priority of our international expansion program. Germany is also the country where we posted the strongest growth in the value of our investment property,” said Radoslaw Krochta, president of the management board of MLP Group.