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Grupo Insur Doubles its Profits & Prepares for the First Signs of a Slowdown in the Construction Sector

The Andalucían company has reported strong presales until September and a 15% increase in the gross value of its assets compared to the end of 2021.

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Grupo Insur has doubled its profits. In the midst of a year of records in the real estate sector (at least until September), the Andalucían company has announced that it closed the third quarter of 2022 with a profit after taxes of 12 million euros, up by 108% compared to the same period a year earlier. The profit before taxes rose by a similar percentage to reach 16.1 million euros, 107% more than in the third quarter of 2021.

Meanwhile, the operating result amounted to 19.6 million euros, up by 67%, mainly driven by a result of 12.5 million euros from the application of IFRS 3 (business combinations) to the takeover of Sociedad Desarrollos Metropolitanos del Sur S.L.U. It is worth remembering that Anida Operación Singulares S.L. used to hold a 50% stake in that company, but then that stake was acquired by Insur Distribución Integral, S.L.U. on 16 June 2022.

Read the full article in Spanish.

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