The INPRO Group has recapped its 2016 financial results. Net consolidated profit was PLN 29.3 million on sales revenues of PLN 204.6 million. The gross value of the apartments sold by the Group was nearly PLN 178 million. In 2017, the Group intends to launch the sales of 718 new apartments and houses.
Last year, the INPRO Group posted consolidated sales revenues of PLN 204.6 million, a mere 3% below the previous year, while net profit climbed from 12% to 14%. Net earnings rose to PLN 29.3 million from PLN 25.8 million the year before.
“The improvement in INPRO Group’s profitability was driven mainly by the higher margin earned on apartments sold and the higher profitability of hotels operated by the Group. It was a significant achievement to maintain consolidated revenues at last year’s level, given that 17% fewer apartments were handed over to customers in 2016 compared to 2015”, said Piotr Stefaniak, President of the Inpro SA Management Board.
Last year, the Group sold a net total of 388 apartments and houses (meaning preliminary agreements less resignations), down 29% from 2015. The gross value of apartments sold in 2016 was nearly PLN 178 million. 463 apartments and houses were handed over to customers in 2016, down 17% from 2015 (556 units).
In 2016, the INPRO Group launched the sales of 607 new units/single family homes compared to 547 in 2015. Several projects were added to the Group’s offering: stage I of Harmonia Oliwska, stage I of Optima, Golf Park, three buildings in the Leszczynowe Osiedle development project, three buildings in the Osiedle Leszczynowy Staw development project and the first building in the Osiedle Nowa Niepołomicka development project.
In 2017, the Group intends to launch the sales of 718 new apartments and houses.