Echo Investment posts PLN 10.4m net profit for Q2

by   CIJ News iDesk II
2020-09-24   09:03
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Echo Investment generated a net profit of PLN 10.4m in the second quarter of 2020, driven by the appreciation in the value of projects under construction and the handover of 222 apartments to buyers. The group has also maintained its healthy cash position, which amounted to more than PLN 340m at the end of the first half of the year. The value of its assets now amounts to more than PLN 5bn, up nearly 17 percent from a year ago. The value of investment properties increased by 80 percent and a 12-percent increase in the value of commercial and residential projects under construction and in preparation was reported. “We are active in the office, residential and retail real estate sectors. We invest in the most promising new segments, such as apartments for rent or serviced offices. Our strategy is flexible, such as in the way we adapt to the changing trends and business cycles of the real estate market, thanks to this, the company as a whole remains in a healthy financial and operational shape,” said Nicklas Lindberg, CEO of Echo Investment.