GTC records strong second quarter but cannot match start of the year

The result is 25% better than in the analogous period of the previous year, but at the same time much worse than the one from Q1. Analysts predict that the developer's financial statements for the next quarters will again be high on average. The marked differences between the two quarters results from the firm's specific activity. The results in Q2 this year increased due to the firm's growing income from renting out commercial space and from selling housing developments. GTC's consolidated operational revenues over that period amounted to zł.78.8 million, and the operational profit amounted to zł.50.9 million. The results are not impressive when compared to the net profit of zł.113 over the first three months of the year, which largely due to the opening of the Galeria Kazimierz shopping center in Kraków. (Parkiet, p. 4) A.F.