Globe Trade Center developer released it has ended its reporting period with net profit of €3m for the first quarter of 2012, a slight increase of €1m compared to the same period in 2011. The figure resulted largely from the result of a portfolio valuation and from tax benefits, according to a written company statement. The rent and service revenues rose by 3 percent over the first three months of the year, coming in at €32m, this despite the sale last yearof Galeria Mokotów. Revenues from the sale of its properties went up in Q1 2012 to €5bn, coming from the sale of residential units (villas) in Osiedle Konstancja in Warsaw following the completion of the fifth phase of the project.
