Good result for PHN

The company’s leasing revenue for 2016 came to PLN 153.5 mln up by 20.5 pct from PLN 127.4 mln in 2015. The adjusted EBITDA was PLN 50.3 mln, up by 55.7 pct y-o-y. Operating costs came to PLN 31.1 mln, compared to PLN 38.4 mln in 2015. “Given that 2016 was a difficult year for the commercial property business, particularly in regard to the continuing oversupply on the market and the massive downward pressure on rents, we are more than happy with our improved financial results. The result of