Robyg's Q1 profit in line with expectations
13:38
Warsaw Stock Exchange-listed residential developer Robyg generated revenues of PLN 69.5 million in the first quarter of this year with the company's net profit in the period having amounted to PLN 2.5 million. Robyg now expects to have a net profit of PLN 90 million in 2017. Oscar Kazanelson, supervisory board president at Robyg, said that the company's financial result in Q1 is in line with previous forecasts. He explained that the Q1 profit results from the schedule of handing over completed apartments to owners with the highest number of the transfers planned for the end of the year. In the first three months of 2017, Robyg sold 937 apartments. According to the company, the figure should grow to approximately 3,300 by the end of the year, provided that the current market trends continue.
