Decent results, dividend is on the table

 Duna House reported its Q3 figures on Friday BMO. The group posted decent quarterly results showing a y-o-y improvement in EBITDA (+5% y-o-y) mainly thanks to the better operation across all the subsidiaries, while profit jumped (+117% y-o-y) because of the consolidation of one of the development projects – in which DH does not have 100% stake. But most importantly, the Group announced the return of dividend even for the last year (DPS 13) and the return of their dividend policy, with which together the company will pay out a DPS of 30 – 33 next year (DY:8.5 – 9%).
 Reported profit climbed to HUF 549 million (HUF 10.6 EPS) (+117% y-o-y), while 9M profit reached HUF 1,018 million (HUF 29 EPS) (+34% y-o-y). Profit from Core operation was up by 19% on a yearly basis in this quarter while 9M core profit arrived at HUF 913 million (HUF 25 EPS) (+16% y-o-y). For next year DH’s management expects HUF 1,100 million profit - please note that core profit excludes profit from development projects.