Echo Investment net profit 13 times higher y/y in H1 2016

Real estate developer Echo investment has reported a consolidated net profit of PLN 298.96 million in H1 2016, compared with PLN 22.74 million in H1 2015, the company announced. The developer's operating profit amounted to PLN 403.98 million, versus PLN 31.28 million in the previous year. Echo Investment's consolidated revenues stood at PLN 280.53 million in H1 2016, while in H1 2015 it amounted to PLN 273.75 million. Echo Investment is a property developer which manages approximately 400,000 sqm of space occupied by shopping centers, offices and housing buildings all over Poland. The company has been listed on the WSE since 1996.