Duna House Q2 earnings rose 19% y.o.y.

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Second-quarter consolidated net income of listed real estate broker Duna House rose 19% year-on-year to HUF 275 million as revenue recovered from a low pandemic base, state news wire MTI saysm citing an earnings report released ahead of the opening bell on Friday.

Net sales revenue jumped 78% to HUF 3.37 billion. Revenue in Hungary increased 56% to HUF 1.14 bln and revenue in the fast-growing Polish market rose 90% to HUF 2.12 bln.

"The outstanding market activity continues to reflect the effects of the changing demand due to COVID-19 and the emerging state family support programs in the Hungarian real estate market," Duna House said.

Based on "excellent" first-half results, Duna House's management raised guidance for full-year after-tax profit to HUF 1.3 bln-1.5 bln, excluding the impact of one-offs.

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