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Graphisoft Park books Q2 profit on widening margin

Graphisoft Park, which owns and operates a business park in the north of the capital, had net profit of €305,000 in Q2, a big improvement over a €60,000 loss in the same period a year earlier as margins widened, the company said in its consolidated IFRS report late Monday.

Revenue climbed 8% to €1,985,000. At the same time, operating costs fell 27% to €197,000.

EBITDA was up 14% at €1,788,000. Operating profit climbed 28% to €873,000.

Occupancy at the park was at 85% in Q2, up from 84% in Q1 and 79% in Q2 2010.

Graphisoft Park said it expected to spend €800,000 on office space design and development in 2011.

Graphisoft Park had total assets of €78,070,000 at the end of June. The value of its investment property, at cost, came to €67,787,000.

It had €52,938,000 in bank loans.