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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.