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Continued buoyancy in H217 has delivered another successful year for Deutsche Grundstücksauktionen (DGA). 2017 saw a double-digit increase in gross turnover comfortably exceed management expectations, while a 7% rise in an already generous dividend would have been significantly greater but for unusually high commission reversals on historic transactions. Positive prospects reflect sustained favourable macro factors and a record start to 2018 thanks to a bumper €15m Berlin auction lot and likely associated payout (surplus cash – DGA has no debt – allows profit to be distributed almost entirely by way of dividend).

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