icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

OPIN posts 1H Net Profit jump

OPIN posts 1H Net Profit jump
Russian property developed OPIN has unveiled a 1H 2008 Net Profit of $90.6 million under IFRS.

The bottom line result was up 239% from the $37.8 million posted over the same period 2007, with pre tax profits up by 297% to $127.3 million, on earnings of $151.2 million, up 81% year on year.

The company attributes the result to increasing house sales and the strong performance of existing projects, coupled with the expansion of OPIN’s land bank, which more than doubled over the half to reach more than 12,000 Hectares.