Dom Development increased sales by 17 percent to PLN 268m (EUR 80.9m) in the second quarter. The net income jumped 25 percent to PLN 69m.
“We estimate that we will sell 1,000-1,300 flats this year”, Jaroslaw Szanajca, the company’s CEO said.
A month ago, the company would forecast flat sales at the level of 1,500-2,000. Dom Development admits it will be hard to generate last year’s net income of PLN 200m.
The company is delaying some of its projects. So are its rivals. JW. Construction has also revised down its forecasts. LC Corp is delaying its Sky Tower project.
(PLN 1 = EUR 0.302)