Windermere Property Management said it expects to record $5.2 billion in profit in the fiscal year ending June 30, after a $1.3 billion loss in the prior fiscal year.
The company said it will post a net loss of $3.3 million, or 6 cents per share, for the three months ended June 30.
The company has seen steady demand for properties in the city and the surrounding region, as demand for condominiums, apartments and townhomes is surging.
“Windermere’s current management strategy reflects our belief that we will continue to be profitable in the long term, while maintaining a strong financial position in the short term,” CEO John W. McDonough said in a statement.
In the year ended June 28, Windermère reported net losses of $1 billion, compared to a $8.5 billion loss the previous year. “
We remain confident that our ability to continue delivering strong results will result in continued strong financial results for Winderm�re.”
In the year ended June 28, Windermère reported net losses of $1 billion, compared to a $8.5 billion loss the previous year.
For the year ending April 30, Windymere posted a net profit of $932 million, compared with a loss of almost $3 billion a year earlier.
The stock has risen nearly 60% since the end of the year.