In the first quarter of 2019. MLP Group recorded a significant increase in net profit and sales revenues, compared to the same period last year.
Almost threefold increase in net profit
The developer operating on the market of modern warehouse and production space in the first quarter of this year recorded a net profit of PLN 12.9m. This result is almost three times higher than in Q1 2018, when the company recorded a profit of PLN 4.3m. The operating profit increased by 65% to PLN 23m. Last year, the operating profit amounted to PLN 13.9m.
Increase in revenue by over 25% y-o-y
Consolidated revenue on sales amounted to PLN 34.8m, compared to PLN 27.7m a year earlier, which is an increase of 25.5% y-o-y. Equity at the end of Q1 2019 amounted to PLN 827.5m, i.e. 1.5% higher than at the end of 2018. President Radosław T. Krochta stresses that the group is in a very good financial condition and the results achieved confirm the effectiveness of the strategy. It assumes maintaining a strong position on the domestic market and foreign expansion.
More and more lease agreements
At the end of March 2019, MLP had signed lease agreements for 519,700 m2, i.e. 3.2% more than in the previous year. The construction rate is 44,500 m2, of which 39,500 m2 is covered by lease agreements. The target area for development on the owned land amounts to almost 1.1 million m2. This means that MLP can double its current scale of activity.