Developer Echo Investment has announced that its 2008 net profit stood at zł.109 million on revenues of zł.433 million, marking a y/y decrease of 192 percent and an increase of 13 percent, respectively.

In Q4 2008, meanwhile, the firm had a net profit of zł.34.5 million on revenues of zł.160 million. Compared to Q4 2007, this was a respective fall of 34 percent and a rise of 67 percent y/y.

The company’s revenues came mainly from the sale of residential units and leasing of office and commercial space. Residential projects in Warsaw, on ul. Inflancka and ul. Zwycięzców, in Poznań and in Bilcza had a strong impact on sales.

In Q4 2008, Echo Investment leased out 100 percent of the office area in the first stage of its Malta Office Park project in Poznań. Due to a revaluation of the project, Echo saw a zł.15 million profit.