February 28, 2012. Vilnius. The income of 2012 of the real estate and building maintenance companies, united under Inreal trademark, topped 38.8 million Litas[1], thus exceeding the level of 2011 (35.1 million Litas[2]) by 10.5 percent. The profit of 2012 prior to taxation remained at the level of 2011 – 2 million Litas.
The annual results of Inreal group Real Estate (RE) service companies – Inreal Valdymas, Inreal and Inreal GEO –have consistently increased: calculated total income exceeded 24.5 million Litas, profit before taxation – 1.88 million Litas. “The positive results have been caused by the successful implementation of Elniakampio Namai project, the residential apartment house in Valakampiai, as well as the increase in rent income by 7.2 percent, comparing with 2011”, – said Gedinimas Pruskus, the Director of Inreal and Inreal Valdymas companies. According to him, the recovering economics and RE market continue to give ground for the successful development of new projects. In the second half of 2012 the development of two residential RE projects were started in the Lithuanian coastal area: Danes Uzutekis (Danes Bay) – apartments and commercial premises in Klaipeda and Kopu Vetrunges (Dune Weathercocks) – apartments in Nida.
In 2012 Inreal group building maintenance (BM) service companies, Inreal Pastatu Prieziura and its associated companies Priemiestis and Jurita, focused on the development and improvement of service quality. This significantly increased the total income of the companies to 14.3 million Litas, and, at the same time, resulted in the lower profit, which reached 125 thousand Litas before taxation. “Last year cleaning of premises and landscaping services were started to be provided independently, the management of multi-family apartment houses in Silale and Kvedarna was started”, spoke Rolandas Rutėnas, the Director of Inreal Pastatu Prieziura. According to him, in 2012 the management structure of the companies and business processes were restructured, Quality Management Systems were recertified, the installation of the new business management system and new IT solutions were launched as well. In a long-term perspective the investments of this year will enhance the competitive advantages of the group and will provide assumptions for faster growth.
ABOUT INREAL GROUP
Inreal Group, which consists of JSC “Inreal Valdymas” (Inreal Management), JSC “Inreal”, JSC “Inreal Pastatų Priežiūra” (Inreal Building Maintenance) (related to companies, administering apartment houses) and JSC “Inreal GEO”, provides the widest spectrum of services in Lithuania, related to real estate and building maintenance services. Companies of Inreal group belong to SC Invalda. More than 300 employees are currently working in Inreal group, the value of managed assets – about 400 million LTL, mediations in lease or sale of 550 thousand sq. m. of commercial premises and 1150 apartments, the value of asset, evaluated per year, is reaching 2 milliard Litas, and the area, administered by companies of building maintenance sector – 1 million sq. m. Company offices or representations are operating in Vilnius, Kaunas, Klaipėda, Šiauliai, Panevėžys, Mažeikiai, Alytus, Plungė, Šilalė and Utena.
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| Ruta Mercaitiene Head of Marketing and Communications Mob. +370 611 29 779 [email protected] INREAL GROUP |
[1]Note: Invalda group real estate companies– property owners (Invalda nekilnojamojo turto fondas, etc.)- do not belong to Inreal Group.
[2]Unaudited results compared with audited results of 2011 are published