Warsaw Stock Exchange-listed residential developer Dom Development recorded zł.308 million in revenue and zł.30.2 million in net profit in the first half of 2012, increases of 85.4 percent and 360 percent respectively, over the same period of last year.
In H1 2012, the developer sold a total of 741 apartments, compared to 826 homes offloaded in H1 last year. Despite the drop, board president Jarosław Szanajca stressed that sales have been stable in recent months and that the company has won a record 15.3 percent share of the Warsaw market.
|Source: Dom Development|
As of the end of H1 2012, Dom Development had 2,262 apartments on its offer, while construction was underway on 2,939 of its homes. New projects could add a total of between 500 and 650 units by the end of the year, Mr Szanajca said.
Meanwhile, another Warsaw Stock Exchange-listed developer, Robyg, reported zł.207.6 million in revenue and zł.20.8 million in profit for the first half of 2012, up 232 percent and 526 percent, respectively, on the same period of last year.
In the first two quarters of this year, Robyg sold 552 apartments, compared to 530 and 287 housing units offloaded in the same periods of 2011 and 2010. In H2 2012, the developer plans to launch construction on approximately 900 homes.
“Robyg’s plans provide for the sale of approximately 1,000 apartments per year and we believe that this [level] can be achieved,” Oscar Kazanelson, president of Robyg’s supervisory board, said in a statement.
“The position of a vice leader in the segment in terms of the number of apartments sold and very good financial results allow us to think positively about the results for the whole year,” Mr Kazanelson said.
From Warsaw Business Journal by Adam Zdrodowski
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