Graphisoft Park posts 22% profit growth in Q3

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Graphisoft Park, which owns and operates a business park in Budapest, had net profit of €373,000 in Q3, up 22% from €305,000 in Q2, as margins widened, the company said in its consolidated IFRS report late Wednesday.

Revenue climbed 8% to €2,025,000. At the same time, operating costs fell 7% to €1,121,000. EBITDA was up 16% at €1,856,000. Operating profit climbed 30% to €908,000.

Occupancy at the park was 85% in Q3, unchanged from Q2 and up from 84% in Q1.

Graphisoft Park said it expected to spend €600,000 on office-space design and development in 2011.

Graphisoft Park had total assets of €74,985,000 at the end of September. The value of its investment property, at cost, came to €65,503,000.

It had €52,477,000 in bank loans.

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