Budimex net profit up by 38% in Q1 y/y

Listed real estate developer Budimex, a unit of Spain's Ferrovial, recorded a consolidated net profit of PLN 51.5 million in Q1 2016, versus PLN 37.3 million in Q1 2015, the company informed. The group's operating profit stood at PLN 62.9 million, compared with PLN 46.7 million a year before. Consolidated sale revenues amounted to PLN 987.7 million, while they totaled PLN 846.4 million in Q1 2015. In Q1 2016, Budimex's real estate unit pre-sold 317 apartments. Budimex Group is one of the largest construction groups operating in Poland. Budimex has been listed on the Warsaw Stock Exchange since 1995.