Italian acquisition boosts Duna House business in Q1

Residential

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First-quarter net income of listed real estate broker Duna House increased 71% year-on-year to HUF 552 million as revenue jumped with the consolidation of Italian loan broker HGroup, state news wire MTI writes, citing an earnings report released after the closing bell on Tuesday.

Net sales revenue climbed 212% to HUF 7.9 billion.

Duna House noted that HGroup accounted for over half of consolidated revenue, generating sales of HUF 4.1 bln, and close to 37% of EBITDA in Q1.

Net sales revenue in Hungary rose 75% to HUF 1.7 bln, boosted by the handover of a residential development in the capital. Sales increased 40% to HUF 2.1 bln in Poland and were up 12% at HUF 96 mln in Czechia. 

Earnings per share came to HUF 14 for the period.

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