Duna House Q1 sales jump 37% but profit edges down
Real estate company Duna Houseʼs first-quarter after-tax profit edged down 9% year-on-year to HUF 266 million, an earnings report released early today shows, according to Hungarian news agency MTI.
Sales were up 37% at HUF 1.1 billion. Direct cost of sales climbed at nearly twice that rate, rising by 67% to HUF 468 mln, and indirect cost of sales jumped 138% to HUF 396 mln.
Operating profit fell 45% to HUF 166 mln, but the bottom line was lifted by HUF 144 mln in net financial revenue.
Revenue from Duna Houseʼs franchise real estate brokerage business increased 42% to HUF 331 mln. Revenue from operating its own offices climbed 107% to HUF 342 mln. Revenue from the brokering of financial products was up 5% at HUF 376 mln.
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