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J.W. Construction: decline in profit in 2018

In 2018, J.W. Construction recorded a consolidated net profit of PLN 16.5m, compared to PLN 25.9m profit a year earlier, the company reported in its report. The decrease in net profit by about 36% y-o-y was caused by a one-off transaction related to the sale of real estate in Wrocław. Revenues from sales amounted to PLN 404.1m, compared to PLN 404.2m in 2017. In 2018, the Group sold 1,248 premises and transferred 1,087 premises. In the previous year, the developer was developing 15 housing and commercial investments for a total of 4,959 units.

The company deepened the diversification of revenues and continued, among others, the hotel business, which is gradually generating financial surpluses, the management board announced. In the previous year, the developer opened a second aparthotel in Warsaw at Kasprzaka Street. The group is also preparing to develop its land for the construction of logistic parks. In 2019, the developer plans to commence investments covering a total of 2.8 thousand units located in Warsaw and its vicinity, Poznan, Tricity and Krakow. The sale is planned for approx. 1.5 thousand units per year. The company currently owns a land bank which enables the construction of approx. 5,040 premises.

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