Duna House Earnings Slip

Figures

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After-tax profit of listed real estate broker Duna House fell 8% to HUF 2.7 bln in 2023, news agency MTI writes, citing an earnings report released this week.

Net sales revenue rose 9% to HUF 32.8 bln.

In a breakdown by country, the report shows Duna House's domestic business generated after-tax profit of HUF 2.5 bln, while the Italian business had earnings of HUF 0.1 bln and the Polish business profit of HUF 0.1 bln.

Earnings per share stood at a little over HUF 76.

Duna House acknowledged that profit targets were missed for the full year because of a change in the scope of consolidation and weak Q4 results, but said cash flow from handovers of the Forest Hill development in the capital and the sale of the real estate portfolio provided additional dividend payout potential over the result of core activities.

Duna House said its board planned to propose payment of a HUF 4.5 bln or HUF 131/share dividend on last year's earnings.

In guidance for 2024, Duna House put after-tax profit, from core activities and adjusted for one-offs, in a range between HUF 1.8 bln and HUF 2.3 bln.

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