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Neinor Earned 74% More in Q1 and Signed 64 Pre-Sales During Lockdown in April

The property developer generated a profit of €3.9 million between January and March from revenues of €50.5 million. In April, it closed half as many pre-sales as planned.

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The Sky development by Neinor Homes.

The property developer Neinor Homes managed to close the pre-sales of 64 homes off-plan during April, a month that was marked by the closure of its sales offices due to the State of Emergency. Prior to the coronavirus crisis, the managers of the real estate company had set a target of twice that figure for the month. During the three months to March, the company pre-sold 353 homes compared to 306 in the same period a year earlier.

The CEO of the company, Borja García-Egotxeaga, revealed this information at the results presentation for the first quarter of 2020. During Q1, the firm obtained a profit of €3.9 million, up by 74% compared to the same period a year earlier, from revenues of €50.5 million, down by 17% YoY.

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