HB Reavis group’s profit increases by 26% in 2014
Leading CEE property development company HB Reavis group’s annual consolidated profit grew by 26% to €89 mln in 2014, the company’s annual report revealed. According to the company’s press release issued yesterday, the growth was driven by an increased share of developments within its asset portfolio in regions characterized by higher returns.
The company’s operating profit grew by 29% in 2014 as compared to 2013, while RoE grew to 10.8% from 5.7% a year earlier. The company’s balance sheet total reached €1.8 bln, up 18% from 2013. Main business drivers included a 28% increase of rental fee revenue, the opening of three new office developments in three capitals and new development site acquisitions.
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