Polnord S.A. reported group earnings results for the first half of 2018. The company has generated PLN 143.1 million of consolidated sales revenue versus PLN 97.4 million in the same period of the previous year. A 46.9% growth is mainly a result of recognition of 489 apartments in revenue, i.e. by 83.8% more than in the same period of the previous year. The Group generated PLN 42.4 million of positive operating cash flows which improved by PLN 18.8 million year over year. In the period January-June 2018, The group recorded a net loss of PLN 24.8 million, which is mainly due to the increase in the general contractor’s costs on investments previously carried out by KB Dom Sp. z o.o., increase in general administrative expenses and additional one-off adjustments to the financial result. The recurring net loss, after adjusting for one-off events, amounted to PLN 11.9 million. Operating loss (EBIT) amounted to PLN 9.6 million versus PLN 4.6 million operating profit a year before. In the first half of 2018 the Group reduced its net debt by PLN 29.5 million as compared to the end of 2017.