The residential developer Ronson released its first quarter results this week, revealing revenues of PLN 7.3m for the last three months of the year. The result signifies a substantial decrease compared to the PLN 34.1m in revenues the developer made in Q1 2010. Still, the result has met the expectation, according to the company’s statement, because of a low number of the completions over the period. Sales were also down, the company has reported, with just 10 flats sold over the last three months, compared to the 47 units offloaded in the same period of 2010. Q1 2012 is expected to be the last period with such a poor results, the company says, coming as a result of the 2009 downturn, when it launched no new projects.
