Profits up for Inpro
ResidentialIts gross profit amounted to PLN 20.7 mln – 55 pct more than the same period of 2014. The group generated a net profit of PLN 7.8 mln in H1, compared to PLN 1.9 mln a year earlier. “The improvement in our results is due to the progress of projects under construction and the reasonable unit price per sqm,” explained representatives of the company. In H1 Inpro handed over a total of 198 apartments to their new owners, representing a growth of 25 pct y-o-y. Over the first six months of 2015 the company also saw improved net presales, signing 237 preliminary contracts net – 10 pct more than in H1 2014.
“The most important events on the development market over the last few months include the amendment to the ‘Apartments for the Young’ programme, increasing the subsidies for large families and including the secondary market in the scheme. Taking into consideration these circumstances, 2015 is expected to be another year of high apartment sales and a simultaneous increase in the number of apartments offered,” commented Piotr Stefaniak, the president of Inpro. In H1, Inpro completed seven detached houses in the Wróbla Staw estate as well as the ‘E’ building in the City Park estate. Its subsidiary Domesta also finished another building in Osiedle Leszczynowe.
The majority of this year’s turnover for Inpro and Domesta will be attributable to its activities in H2 2015. Assuming there are no delays in the administrative procedures related to occupancy permits, the following projects should also be completed: Osiedle Leszczynowe (building no. 14), Osiedle City Park (building ‘F’), Osiedle Chmielna Park (building ‘B’), Osiedle Wróbla Staw Mieszkania (five buildings in the second stage and five in the first stage), as well as a number of detached houses in the Osiedle Wróbla Staw estate (stage ‘D’) and in Golf Park. The revenue from these projects, which is to be entered into the company’s books this year, should come to around PLN 70–90 mln. In H1 the Inpro group put on sale 441 new apartments and houses. In this half of the year the group is planning to add to that total another 280 apartments and houses: 36 detached houses in Golf Estate in Tuchom and in two new projects that are being launched – Osiedle Harmonia Oliwska (90 apartments) and Osiedle Azymut in Gdynia (100 apartments). Domesta has opened the sales process for units in building no. 17 in Osiedle Leszczynowe (28 apartments) in July 2015. By the end of the year the company is planning to have done the same for building no. 16 in the same project (26 apartments).
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