Echo Investment Capital Group closed the fourth quarter of 2007 with a net profit amounting to almost 322 mln PLN. Net income of the Group exceeded 380 mln PLN and is by more than 14% higher, than in the previous year.

Accruing, after four quarters of 2007 the net profit of the company equalled 322 mln PLN and was by approximately 16% higher, than the profit obtained in the previous year. The Group noted net income in the amount exceeding 380 mln PLN, which constiututes a growth of more than 14% compared with identical period of 2006.
The result obtained in the IVth quarter was affected mainly by appraising of the owned real property – commercial shopping-entertainment center Pasaż Grunwaldzki in Wrocław and booking of income on grounds of concluded final agreements of sale of the residential project in Warsaw, at Inflancka street, and also income received from lease of commercial areas.
The acquired result was also significantly influenced by a quarterly updating of appraisal of the real property owned by the Capital Group, taking into consideration, among others, changes resulting from differences in exchange rates of EUR and USD (q/q).