– Fortunately, we now see somewhat more optimism in the market, says managing director Hilde Vatne in JM Norway.
In the first quarter of this year, JM’s revenues in Norway were SEK 690 million (632) with an operating margin of 10.1% (6.7%). JM Norge sold 62 homes (77), but started production on no new ones (41) in the first quarter.
At the end of the quarter, JM had 852 homes in production (1,105) in Norway. Compared to the corresponding period the previous year, revenues and operating profit improved somewhat due to the sale of land outside the company’s strategic investment areas.
– It is still a demanding market. The interest rate cuts are taking a long time, and it is difficult for customers to get financing. Despite the relatively weak sales, we are satisfied with the financial result in the first quarter, says managing director Hilde Vatne of JM Norway in a press release.
– Fortunately, we now see somewhat more optimism in the market, and the price level in the second-hand market increased throughout the first quarter. Norges Bank has signaled that the interest rate peak has been reached, and the market expects interest rate cuts in the second half of the year. This sends positive signals to consumers, Vatne points out.
