Arricano: double-digit growth of financial indicators in the first half of 2016

On September 26, 2016 the "Consolidated interim condensed financial statements for the period that ended on June 30, 2016" was published. According to the consolidated financial statements, Arricano Real Estate Plc has shown stable growth rates in the reporting currency (US dollar) in the 1st half of 2016. The revenues in the reporting currency (US dollars) have increased by 12.6%. The growth of profitability before income tax amounted to 20.8% of net profit less the income from revaluation of investment properties and provision for impairment of assets.

"The trend of growth of the company’s financial indicators against the background of an insignificant stabilization of the market is explained by the systemic coordinated activities of the governing body in introducing innovations and improving service in all Arricano objects. We are proud of these results, which demonstrate the effective work of the entire Arricano team. One of the most pressing issues for the company is still the return of illegally derived assets - Sky Mall shopping mall. Arricano is planning the development of new projects, introduction of innovations and comprehensive improvement of shopping and entertainment centres, "- says Mykhailo Merkulov, CEO Arricano Real Estate Plc.

In the 1 half of 2016, certain improvements were introduced to Arricano shopping and entertainment centres that come up to the expectations of mall visitors, strengthen the positioning of the objects and meet the needs of the age. All Arricano shopping centres implement developmental programmes. Regular improving of the tenant mix and use of active marketing for the benefit of all the tenants of the object generate positive attitudes by the guests, ensure a steady stream of visitors and foster an embracing attitude towards the mall as a third place after home and work, where one can make purchases and spend time with pleasure and use both on one’s own and together with the family. Over January – June period, food court areas were updated, service areas were organized, which make for a comfortable stay in the mall, equipped baby care rooms were set up, lounge areas were furnished where one can recharge one’s gadgets.

Mykhailo Merkulov maintains that implementation of service-improving and innovation-introducing programmes is one of the strategic vectors of company development: "For example, in 2016 Arricano is carrying out a programme for active and developing partners. It is a B2B upgrade by Arricano free educational project for tenants aiming at enhancing customer service”. It is worth noting that this partnership project is an innovative solution in the commercial real estate market.