In Q2 2019, Ronson Development contracted 172 units and sold a total of 346 units since the beginning of the year. The number of deliveries in Q2 was 289 units, while in the entire first half of 2019 it was 434 units.
Miasto Moje is the leader in sales
The sale of 172 units in Q2 2019 is very similar to the one achieved in the first three months of the year, when Ronson found buyers for 174 units. The developer sold a total of 346 units in H1 2019, compared to 436 units in H1 2018, said in press release Andrzej Gutkowski, Vice President of the Management Board and Sales and Marketing Director of Ronson Development.
Among the best-selling projects in the second quarter of 2019 was the Miasto Moje residential estate in Warsaw’s Białołęka district, where the company sold 61 units and the Grunwald2 project in Poznan.
…and among the handed City Link
Ronson Development handed over 289 units in Q2 2019 (compared to 213 units a year ago). Most of the apartments were handed over to the clients of the first two stages of the City Link project in Warsaw (130), and a significant impact on the financial results for the second quarter will also have transfers from the Wrocław Vitalia project (65) and from the Warsaw estates – Nova Królikarnia (41) and Miasto Moje (40).
Lower profits and sales in Q1 2019
Ronson Development made a consolidated net profit (attributable to parent company shareholders) of PLN 3.5m (€0.8m) in the first quarter of 2019. That’s down from PLN 3.9m (€0.9m) a year earlier. Consolidated sales revenues fell by 18% y-o-y, to PLN 66m (€15.3m) from PLN 80.2m (€18.6m).