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Lokum records highest ever sales

Eurobuild CEE 10 April 2018
POLAND Lokum Deweloper has published record-breaking financial results for 2017.

The company registered revenue of PLN 221 mln up by 17 pct and a net profit of PLN 77 mln up by 63 pct after having recorded a revenue of PLN 189 mln and a profit of PLN 47 mln in 2016. A record number of housing units sales were recognised (646, up by 12 pct y-o-y) and the company recorded its highest ever sales – 1,052 units (up by 63 pct). The company’s net yield increased to 34.6 pct (24.8 pct in 2016). The board has recommended a dividend of PLN 15 mln for 2017 (PLN 0.84 per share compared to PLN 0.78 last year) representing 19.7 pct of consolidated net profit. “As a result of maintaining our strong position in Wrocław, where we are the leader of the superior standard segment, and of our entrance into the Kraków market, we have beaten the symbolic 1,000-unit-sales mark, while also booking the sales of nearly 650 premises in our financial results. Our profit and revenue are also at their highest levels in the history of the company,” says Bartosz Kuźniar, the president of the board. Over 2017 the developer also extensively built up its land bank purchasing and signing contracts for plots with a combined area of 9 ha for around PLN 75 mln in both Wrocław and Kraków. Around 2,300 homes could eventually be built on the newly acquired land.

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