In H1 2018, the MLP Group, a modern industrial property developer, generated PLN 62.6 million in revenues, or 31.6% more than in comparison with the corresponding period of last year. In the first six months of the year, the Group earned operating profit of PLN 71.6 million, nearly quadruple last year’s result (PLN 18.8). In turn, the MLP Group generated a net profit of PLN 31.5 million, signifying improvement of 58.4% versus the same period last year. At the end of June 2018, the industrial space developer had equity (net assets) of PLN 758.5 million, or 4.4% more than presented at the end of the previous year. During the first half of this year, the value of the Group’s investment properties climbed 14.3% to PLN 1.32 billion (EUR 303.2 million).
“Our H1 results are very strong. Such major improvement is chiefly the outcome of the profit generated by the revaluation of investment properties totaling PLN 41.8 million. This was possible thanks to the completion of industrial space construction projects, the commencement of new investments and the purchase of land in the western part of Poznań. We also benefited from the 4.57% strengthening of the Euro exchange rate”, said Radosław T. Krochta, President of the Management Board of MLP Group S.A.
In H1 2018, the Group executed investment projects with a total area of 93.6 m² and had 17 thousand m2 under preparation, yielding a total of 110.5 thousand m2. At the same time, projects spanning 41 thousand m2 of new space were completed and delivered. At present, we have 63.8 thousand m2 of leased space under construction and in preparation. At the end of June of this year, the level of vacancies was very low at merely less than 3%.
