Brokerages in Hungary show weak quarterly performance

As for the main figures for the July-September period:

• Revenue of domestic brokerage firms fell by more than 20% to HUF 176.5 billion on a year-on-year basis
• The operating profit jumped by 14% to HUF 12.1 billion compared to last year,
• but profit before tax fell by 48.3% to HUF 7.1 billion.
• Profit after tax decreased by around 56.4% compared to the third quarter of last year, and was just over HUF 5.5 billion.

The first 9 months of this year are no better overall, with

revenues down 19% and profit before tax down 18% compared to a year ago.

Cover photo (for illustration purposes only): Getty Images