Echo Investment Q2 profit grows

WSE-listed developer Echo Investment recorded a consolidated net profit of PLN 124.9 million in Q2, up by 10.1 percent y/y. While EBIT plummeted by 82.1 percent y/y to PLN 42.87 million. Revenues dropped by 25..9 percent to PLN 101.71 million. The company plans to hand over 925 apartments and sell 1,292 flats this year. In H1, Echo handed over only 148 apartments but expects that figure to rise sharply in H2, as the company is in the process of securing permits for eight residential investments, the company said in its financial report.