Akko Invest Registers Strong H1 Revenue, EBITDA Growth
The revenue of Akko Invest, a Premium category Budapest Stock Exchange company, increased beyond the rate of inflation after its largest subsidiary, NEO Property Services, also saw strong results in both revenue and profits, according to a press release sent to the Budapest Business Journal.
Akko closed the first half with revenue of HUF 15.6 billion and an EBITDA of HUF 1.4 bln.
The company says that its stable market position is illustrated by the fact that it continues to grow despite of the negative effects of the COVID epidemic, followed by the Russian-Ukrainian war, and finally high inflation: in the past half, the company increased the number of its property services clients to more than 280.
In addition to property management, NEO also continued to strengthen its position in the condominium management and general contracting sectors. Within its portfolio of construction projects, the company plans to pursue greenfield investments, rental developments, property expansions, and other construction works.
NEO Property Services expects to have an exceptionally high number of individual orders in the second half of the year, predicting strong results for the entire business year.
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