Wikana predicts upswing in profit in 2010

2010-03-05

The property developer Wikana forecasts revenues of PLN 153.6m (€39.4m) in 2010, which would represent an increase of roughly 26% in relation to 2009, according to a report in Puls Biznesu.
The company expects most of these earnings to be generated by projects in the housing sector, i.e. PLN 122.18m (€31.3m) this year. It will also record its first earnings from operations on the commercial real estate market as it will soon begin putting up an office-warehouse building in the Special Economic Zone Euro-Park Mielec.
According to this year's forecasts, Wikana will achieve a net profit of PLN 37.5m (€37.5m) , which would be PLN 16.7m (€4.3m) higher than in 2009. The company anticipates a net profit margin of close to 20% in 2010. It has scheduled 16 new investments this year, in which a total of 575 flats will be built.

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