Duna House reported its Q4 and its FY results Wednesday post market. Profit came at HUF 918 million in line with our forecast and adjusted profit (excluding MyCity) arrived into the high end of management guided range HUF 981 million (850-1,000 million). Performance of the core operation in Q4 was decent but investors will focus on the higher dividend (+35% to DPS 176) and on the next year guidance, in our view.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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