Duna House Q3 profit climbs 54%
Third-quarter after-tax profit of listed real estate broker Duna House climbed 54% year-on-year to HUF 293 million, an earnings report shows, according to national news agency MTI.
Net sales revenues increased 30% to HUF 1.56 billion. Sales of Duna Houseʼs Polish business reached HUF 361 mln.
Costs of goods and services sold increased 32% to HUF 322 mln, lifted by sales of units in Duna Houseʼs Reviczky development in the capital.
Duna House booked a HUF 349 mln decline in stocks of finished products and work in progress, compared to a HUF 459 mln decline in the base period, reflecting the net difference between activated construction service costs related to MyCity development projects and the book value of units sold and handed over.
Operating profit was up 35% at HUF 369 mln.
Duna Houseʼs management expects to close 2018 with after-tax profit of HUF 950 mln-HUF 1.15 bln, excluding MyCity projects, a note on guidance in the report shows.
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