Duna House profits rise in the first quarter thanks to the rebound in the real estate market
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The after-tax profit of listed Hungarian real estate broker Duna House in the first quarter rose 9% year-on-year to 292 million euros, supported by a market rally, the MTI news feed said, citing a report on the results published by the company.
Duna House noted that the commission volumes of its real estate brokerage activities in Hungary and Poland increased by 30% and 60% respectively. He added that the residential real estate market in Hungary started the year at levels “not seen in ten years”, thanks to state subsidies and changing demand due to the pandemic.
Net revenue edged up 3% to HUF 2.54 billion, but operating profit climbed 21% to HUF 370 million.
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