Polish Real Estate Holding (PHN) posted a profit of PLN 99m at the end of last year, a substantial improvement from the PLN 169.5m loss reported at the end of 2012. Its consolidated net profit hit PLN 100m, which compared favorably to its PLN 170.8m in 2012. Meanwhile, operating revenues came in at PLN 171.3m in 2013, down from 2012’s PLN 18.7m.
The state-run company said it plans to pay dividends on the profits. This sheds light on a statement last year from Poland’s deputy treasury minister, Paweł Tamborski, who said the Treasury would seek to collect dividends from PHN before the company’s privatization was completed. It would be the first time the company paid dividends since being created in 2011.
