Purple Real Estate Income has posted gross earnings of N4.7 billion for the half year ended Thursday, June 30, 2022.
In the consolated statement of profit or loss obtained from the company, it was disclosed there-in that Purple Real Estate saw its gross earnings for the period under review soar by 157.5% year-on-year when compared to the N1.8 billion recorded in the corresponding period of last year (2021).
It was further disclosed in the statement that a key driver of the gross earnings growth was income earned from trading properties under development, which the firm said accounted for 70.5%.
Commenting on the performance, the Chief Executive Officer (CEO) of the real estate giant, Laide Agboola stated: “Building on the momentum we achieved in 2021, we made significant progress during the first half of 2022 and reached several milestones as we expanded our client reach and developed more properties. This was accomplished despite a background of considerable geopolitical instability made worse by the conflict in Ukraine. This war has had a big influence on consumer spending, supply chains, overall inflation, exchange rate, and energy prices.
“We remain committed to providing solutions that cater to the needs of our environment and young and vibrant population. The aim is to diversify our revenue streams through our real estate and lifestyle development businesses. Our focus is on strengthening growth through technology and partnerships, as well as improving our capital base. We look forward to progressing further during the year.”
