The Polish retail developer Rank Progress said it hopes to end 2012 with a PLN 32.7m profit, despite a PLN 31.9m loss over the first half of the year. The company reported PLN 20.1m in revenues for the first six months of 2012, down from the PLN 54.1m it posted for the same period last year. “I’m confident about this year’s forecast,” said Jan Mroczka, head of Rank Progress. “We expect to close this year with profits of over PLN 32m.” He revealed that the company plans to offload the Galeria Świdnicka mall, one of its biggest Polish assets, this year.
