JW Construction, the biggest homebuilding company in Warsaw, had PLN 19.1m (EUR 5.6m) of net income, or 70 percent more than in the first quarter of last year. Sales amounted to PLN 119.59m and were 12 percent higher. Investors welcomed the news. Stock rose 1.6 percent yesterday.
“JW Construction managed to keep high dynamics of its results. Sales are not big which raises worries that it may be difficult to keep high results in upcoming quarters and years”, Michal Sztabler from DM PKO BP said.
The company sold over 200 flats against 698 a year earlier.
“I’m certain that second quarter sales will be ok. Sales are lower today because the demand is lower. It’s enough for us to sell 1,200-1,300 flats to realize our forecasts”, Jerzy Zdrzalka, JW Construction CEO said.