12:59 24.09.2020

Developer Arricano sees net profit rise 2.5-fold, reduces revenue by 18% in H1 2020

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Developer Arricano sees net profit rise 2.5-fold, reduces revenue by 18% in H1 2020

Arricano Real Estate Plc (Cyprus), a management company and developer of a number of shopping and entertainment centers in Ukraine, saw $22 million in net profit in January-June 2020, which is 2.5 times higher than in the first half 2019.

According to the company's report posted on the London Stock Exchange on Thursday, its revenue in January-June decreased 18%, to $14.2 million, while the total profit fell by 82.8%, to $3 million.

The company's net asset value since the beginning of the year has increased 2.4%, to $131 million.

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