Merko profits increase in Q3

Merko profits hit €5.6m in Q3

Merko Ehitus Group, a leading player in the Baltics construction sector, reported increases in both revenues and net profit for the third quarter. The company’s revenues hit €115m, up from €86m a year ago, while profits climbed to €5.6m from €3.4m in Q3 2017. Merko has completed 840 residential units so far this year, 550 of which are located Vilnius. A number of other large projects were also completed in Q3, including the recently opened T1 Mall and the Maakri Kvartal business complex in Tallinn, a Lidl logistics center in Riga and Hotel Neringa in Vilnius. More than 50 percent of the company’s projects are going up outside of its native Estonia.