Duna House Q3 earnings double on MyCity handover
Third-quarter after-tax profit of listed real estate broker Duna House rose 117% year-on-year to HUF 549 million, lifted by the handover of homes in the MyCity Residence project, in which Duna House holds a 50% stake, an earnings report published Friday shows, according to a report by state news wire MTI.
Duna House booked HUF 269 mln in net profit from the development in the north of the capital. It expects to book the remaining HUF 329 mln in profit from the project in the coming quarters.
Net sales revenue rose 11% to HUF 2.22 billion.
Duna House said that in light of Q1-Q3 after-tax profit from core activities, excluding one-offs, of HUF 914 mln, it puts cleaned core after-tax profit for the full year at "over HUF 1 bln".
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.