Robyg: 2,800 apartments to be sold in 2016
19:27
Warsaw Stock Exchange-listed residential developer Robyg sold a total of 2,111 apartments in the first three quarters of this year, which marks a 19 percent increase on the same period last year. In Q3 alone, the company offloaded 736 housing units, up 15 percent y/y. In the whole year 2016, the developer now hopes to achieve the apartment sales level of 2,800, said Oscar Kazanelson, president of the supervisory board at Robyg. The company is currently developing eight projects in Warsaw and three projects in Gdańsk. At the end of Q3, the developer had 1,942 apartments on offer, of which less than 5 percent were in completed schemes.
In the Q1-Q3 period, Robyg recorded a revenue of PLN 302 million (PLN 455 million including the revenue from joint-venture projects) and a net profit of approximately PLN 54 million. The operational profit reached the level of PLN 65 million. The company's financial forecast for 2016 envisions an operational profit of PLN 115 million.
