We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Direct Wonen | LSE:DIWO | London | Ordinary Share | NL0000817377 | ORD EUR0.02 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 25.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMDIWO RNS Number : 1706Y Direct Wonen N.V. 28 August 2009 For Immediate Release 28 August 2009 DIRECT WONEN N.V. ("Direct Wonen" the "Company" or the "Group") Interim Results for the period ended 30 June 2009 "FOCUS ON CORE ACTIVITIES AND GROWTH" Direct Wonen N.V. (AIM, DIWO), the online Property and Financial Services provider based in the Netherlands, today announces its unaudited interim results for the period ended 30 June 2009. Key Results * Total revenue decreased by only 2% to EUR 13.9 million (H1 2008: 14.2 million); * Revenue for Residential Letting Services increased 3% to EUR 6.7 million (H1 2008: EUR 6.5 million). Revenue for the Financial Services division decreased by 4% to EUR 7.0 million (H1 2008 EUR 7.3 million) due to the difficult market conditions for bank lending in mortgages; * Expenses were reduced significantly by 21% to EUR 12.6 million (H1 2008 EUR 15.9 million) as a result of the restructuring that was completed in 2008; * Net finance income of EUR 0.1 million (H1 2008: Net finance expense of EUR 0.2 million) improved as a result of a reduction of loans and a more effective deposit policy; * Tax expenses resulted in a credit due to carry forward of previous losses; * EBITDA amounted to EUR 2.1 million (H1 2008: EUR -1.1 million); * The cash position remained strong at EUR 33.4 million (2008 EUR 59.7 million). The reduction is mainly due to the repayment of a loan EUR 19.8 million; * The equity position further improved to EUR 74.7 million (2008: EUR 73.2 million). Commenting on the results, CEO Yvonne Swaans said: "Direct Wonen has made a turnaround and is back on track. Residential Letting Services has performed in line with expectations with potential for substantial growth both in revenue and profit. Particularly the online labels showed a strong performance. The Financial Services activities suffered from the difficult market circumstances but our broad product offering demonstrated a strong resilience in particular the Golden Handshake business and consumer lending activities. Residential Sales activities remained low until new opportunities arise. The restructuring that was completed in 2008, has brought the organisation "back to basics". Expenses have been reduced significantly and the focus of management is now fully devoted to the business and exploring new opportunities. I would like to thank the team for their continuous commitment and great effort they have made to the business." Business Overview Residential Letting Services - Revenue increased 3% to EUR 6.7 million (H1 2008: EUR 6.5 million) with strong sales in online labels; - EBITDA was EUR 1.1 million (2008: EUR 0.2 million). Residential Letting Services has continued to provide stable revenues. EBITDA was in line with expectations. The websites Direct Wonen.nl and Kamernet.nl have been improved and upgraded and continued to show increased traffic and growth of subscribers. Cost reductions and internal efficiency programmes have paid off and the planned roll out of a new internal operation system in Q3 will further improve efficiency and focus on sales. Residential Sales Services - In line with expectation, revenues were low at EUR 0.1 million (H1 2008 EUR 0.3 million) due to the fact that no new projects were committed; - EBITDA was marginally negative at EUR -0.1 million (H1 2008 EUR 0.1 million). The small variable project team generated only limited costs. No new projects have been committed to date. Our continuous review of market opportunities and assessment of risk models have not yet resulted in the acquisition of new projects. Revenues in 2009 related to the sale of properties in the phase 7 of Funenpark (to be completed in H2 2009). Financial Services - Revenue of Financial Services decreased by 4% to EUR 7.0 million (H1 2008 7.3 million) due to the difficult market circumstances in the mortgages market; - EBITDA was EUR 1.1 million (H1 2008 EUR -1.4 million). The Financial Services division faced difficult market conditions in the mortgages market, however reduction in revenue was limited to 4% only. Acadium Bastion faced lower volumes and prices but the Golden Handshake business provided stable revenues and results comparable to the 2008 figures. The consumer lending business showed an increase in revenues. It benefitted from the new marketing campaign and the strong focus of the online team on the Geldshop.nl business model. Further efforts are being made to achieve additional cost savings and synergy in this division. For more information please contact Direct Wonen Tel +31 (0)70 711 5691 Irma de Jong www.directwonencorporate.com Collins Stewart Europe Limited (Nomad)Tel +44 (0)20 7523 8350 Hugh Field / Adam Cowen About Direct Wonen Direct Wonen is an online residential property and financial services provider based in The Netherlands. The Direct Wonen group of companies operates three complementary business lines: +-------+-----------------------------------------------------------------------+ | | - Residential Letting Services | +-------+-----------------------------------------------------------------------+ | | - Residential Sales Services | +-------+-----------------------------------------------------------------------+ | | - Financial Services | | | | +-------+-----------------------------------------------------------------------+ Direct Wonen was formed in 1990 and has been listed on the Alternative Investment Market (AIM) of the London Stock Exchange since 1 May 2007. Condensed consolidated interim income statements for the six month period ended 30 June 2009 +----------------------------------------+----------------+--+-+----------------+ | In thousands of euros | 30 June 2009 | | | 30 June 2008 | +----------------------------------------+----------------+--+-+----------------+ | | | | | | +----------------------------------------+----------------+--+-+----------------+ | Revenue | 13,865 | | | 14,156 | +----------------------------------------+----------------+--+-+----------------+ | Cost of sales | (201) | | | (239) | +----------------------------------------+----------------+--+-+----------------+ | Gross profit | 13,664 | | | 13,917 | +----------------------------------------+----------------+--+-+----------------+ | | | | | | +----------------------------------------+----------------+--+-+----------------+ | Other income | - | | | 16 | +----------------------------------------+----------------+--+-+----------------+ | Administrative expenses | (7,142) | | | (9,091) | +----------------------------------------+----------------+--+-+----------------+ | Other expenses | (5,444) | | | (6,783) | +----------------------------------------+----------------+--+-+----------------+ | Result from operations | 1,078 | | | (1,941) | +----------------------------------------+----------------+--+-+----------------+ | | | | | | +----------------------------------------+----------------+--+-+----------------+ | Finance income | 634 | | | 905 | +----------------------------------------+----------------+--+-+----------------+ | Finance expenses | (562) | | | (1,159) | +----------------------------------------+----------------+--+-+----------------+ | Result before tax | 1,150 | | | (2,195) | +----------------------------------------+----------------+--+-+----------------+ | | | | | | +----------------------------------------+----------------+--+-+----------------+ | Tax | 370 | | | 307 | +----------------------------------------+----------------+--+-+----------------+ | Result for the period | 1,520 | | | (1,888) | +----------------------------------------+----------------+--+-+----------------+ | | | | | | +----------------------------------------+----------------+--+-+----------------+ | Earnings per share after tax (EUR) | | | | | +----------------------------------------+----------------+--+-+----------------+ | - Basic earnings per share | 0,01 | | | (0,01) | +----------------------------------------+----------------+--+-+----------------+ | | | | | | +----------------------------------------+----------------+--+-+----------------+ | Other comprehensive income | | | | | +----------------------------------------+----------------+--+-+----------------+ | Cash flow hedges, net of tax | (82) | | | - | +----------------------------------------+----------------+--+-+----------------+ | Currency translation differences | - | | | - | +----------------------------------------+----------------+--+-+----------------+ | Other comprehensive income | - | | | - | +----------------------------------------+----------------+--+-+----------------+ | Total comprehensive income | 1,438 | | | (1,888) | +----------------------------------------+----------------+--+-+----------------+ | | | | | | +----------------------------------------+----------------+--+-+----------------+ | Profit attributable to: | | | | | +----------------------------------------+----------------+--+-+----------------+ | Equity holders of the company | 1,520 | | | (1,888) | +----------------------------------------+----------------+--+-+----------------+ | Minority interest | - | | | - | +----------------------------------------+----------------+--+-+----------------+ | | 1,520 | | | (1,888) | +----------------------------------------+----------------+--+-+----------------+ Condensed consolidated balance sheet as at 30 June 2009 in thousands of euros +----------------------------------------+----------------+-+-+--------------------+ | | 30 June 2009 | | | 31 December 2008 | | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | ASSETS | | | | | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Property, plant and equipment | 2,868 | | | 3,376 | +----------------------------------------+----------------+-+-+--------------------+ | Intangible assets | 42,192 | | | 42,126 | +----------------------------------------+----------------+-+-+--------------------+ | Financial fixed assets | 842 | | | 885 | +----------------------------------------+----------------+-+-+--------------------+ | Deffered tax asset | 4,204 | | | 4,204 | +----------------------------------------+----------------+-+-+--------------------+ | Other financial assets | 4,934 | | | 5,362 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total non-current assets | 55,040 | | | 55,953 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Inventories and work in progress | 3,661 | | | 3,474 | +----------------------------------------+----------------+-+-+--------------------+ | Current tax asset | 991 | | | 428 | +----------------------------------------+----------------+-+-+--------------------+ | Trade and other receivables | 20,004 | | | 15,169 | +----------------------------------------+----------------+-+-+--------------------+ | Cash and cash equivalents | 33,391 | | | 59,702 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total current assets | 58,047 | | | 78,773 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total assets | 113,087 | | | 134,726 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | EQUITY | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Share capital | 3,148 | | | 3,148 | +----------------------------------------+----------------+-+-+--------------------+ | Share premium | 50,727 | | | 50,727 | +----------------------------------------+----------------+-+-+--------------------+ | Hedging reserve | (668) | | | (586) | +----------------------------------------+----------------+-+-+--------------------+ | Retained earnings | 21,451 | | | 19,931 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total equity | 74,658 | | | 73,220 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | LIABILITIES | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Loans and borrowings | 13,323 | | | 11,344 | +----------------------------------------+----------------+-+-+--------------------+ | Cash flow hedge | 669 | | | 586 | +----------------------------------------+----------------+-+-+--------------------+ | Provisions | 9,671 | | | 10,427 | +----------------------------------------+----------------+-+-+--------------------+ | Deferred tax liability | 474 | | | 474 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total non-current liabilities | 24,137 | | | 22,831 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Loans and borrowings | 3,500 | | | 25,687 | +----------------------------------------+----------------+-+-+--------------------+ | Trade and other payables | 10,792 | | | 12,988 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total current liabilities | 14,292 | | | 38,675 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total liabilities | 38,429 | | | 61,506 | +----------------------------------------+----------------+-+-+--------------------+ | | | | | | +----------------------------------------+----------------+-+-+--------------------+ | Total equity and liabilities | 113,087 | | | 134,726 | +----------------------------------------+----------------+-+-+--------------------+ Condensed consolidated interim statements of changes in equity for the six month period ended 30 June 2009 +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | Share | | | Share | | |Hedging | | |Retained | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | In thousands of euros |capital | | |premium | | |Reserve | | |earnings | | | Total | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Position on 1 January | 3,148 | | | 53,468 | | | - | | | 22,987 | | | 79,603 | | 2008 | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Profit (loss) of the | - | | | - | | | - | | | (1,888) | | | (1,888) | | period | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Gross profit | - | | | - | | | - | | | (1,888) | | | (1,888) | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | At 30 June 2008 | 3,148 | | | 53,468 | | | - | | | 21,099 | | | 77,715 | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | At 1 January 2009 | 3,148 | | | 50,727 | | | (586) | | | 19,931 | | | 73,220 | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Profit (loss) of the | - | | | - | | | - | | | 1,520 | | | 1,520 | | period | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Gross profit | - | | | - | | | - | | | 1,520 | | | 1,520 | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Other equity changes | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Change hedging reserve | - | | | - | | | (82) | | | - | | | (82) | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | Total changes | - | | | - | | | (82) | | | - | | | (82) | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | | | | | | | | | | | | | | | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ | At 30 June 2009 | 3,148 | | | 50,727 | | | (668) | | | 21,451 | | | 74,658 | +-------------------------+---------+--+-+---------+--+-+---------+--+--+----------+--+-+---------+ Condensed consolidated interim statements of cash flows for the six month period ended 30 June 2009 +----------------------------------------+-----------------+-+-+-----------------+ | In thousands of euros | 30 June 2009 | | | 30 June 2008 | +----------------------------------------+-----------------+-+-+-----------------+ | | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Operating activities | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Profit for the period | 1,150 | | | (2,195) | +----------------------------------------+-----------------+-+-+-----------------+ | Adjustments for: | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Depreciation Property, plant and | 548 | | | 643 | | equipment | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Amortisation Intangible assets | 475 | | | 228 | +----------------------------------------+-----------------+-+-+-----------------+ | Finance income | (634) | | | (905) | +----------------------------------------+-----------------+-+-+-----------------+ | Finance cost | 562 | | | 1,159 | +----------------------------------------+-----------------+-+-+-----------------+ | | 2,101 | | | (1,070) | +----------------------------------------+-----------------+-+-+-----------------+ | | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Change in inventories | (187) | | | 673 | +----------------------------------------+-----------------+-+-+-----------------+ | Change in trade and other receivables | (4,835) | | | (5,416) | +----------------------------------------+-----------------+-+-+-----------------+ | Change in trade and other payables | (1,766) | | | (6,968) | +----------------------------------------+-----------------+-+-+-----------------+ | Change in provisions | (756) | | | 5,258 | +----------------------------------------+-----------------+-+-+-----------------+ | | (5,443) | | | (7,523) | +----------------------------------------+-----------------+-+-+-----------------+ | | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Income taxes paid | (191) | | | (212) | +----------------------------------------+-----------------+-+-+-----------------+ | Cash flows from operating activities | (5,634) | | | (7,736) | +----------------------------------------+-----------------+-+-+-----------------+ | | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Investing activities | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Acquisition of subsidiaries, net of | - | | | (14,087) | | cash acquired | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Purchase of fixed assets | (40) | | | (1,048) | +----------------------------------------+-----------------+-+-+-----------------+ | Development of websites | (501) | | | - | +----------------------------------------+-----------------+-+-+-----------------+ | Divestments in equity accounted | - | | | 33 | | investees | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Loan to accounted investees | - | | | 114 | +----------------------------------------+-----------------+-+-+-----------------+ | Interest received | 634 | | | 905 | +----------------------------------------+-----------------+-+-+-----------------+ | Subtotal investing activities | 93 | | | (14,083) | +----------------------------------------+-----------------+-+-+-----------------+ | | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Financing activities | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Proceeds from the issue of share | - | | | - | | capital | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Bank borrowing advances | - | | | 35,078 | +----------------------------------------+-----------------+-+-+-----------------+ | Bank borrowing repayments | (20,208) | | | - | +----------------------------------------+-----------------+-+-+-----------------+ | Interest paid | (562) | | | (721) | +----------------------------------------+-----------------+-+-+-----------------+ | Repayment of share premium to | - | | | (9,912) | | shareholders | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Subtotal financing activities | (20,770) | | | 24,445 | +----------------------------------------+-----------------+-+-+-----------------+ | | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Increase in cash and cash equivalents | (26,311) | | | 2,626 | +----------------------------------------+-----------------+-+-+-----------------+ | | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Net foreign exchange gain/(loss) | - | | | (438) | +----------------------------------------+-----------------+-+-+-----------------+ | Cash and cash equivalents at the the | 59,702 | | | 56,203 | | beginning of the period | | | | | +----------------------------------------+-----------------+-+-+-----------------+ | Cash and cash equivalents at the the | 33,391 | | | 58,391 | | end of the period | | | | | +----------------------------------------+-----------------+-+-+-----------------+ Notes to the condensed consolidated interim financial statements for the six month period ended 30 June 2009 1. Basis of preparation The condensed financial statements have been prepared using accounting policies consistent with International Financial Reporting Standards and in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. 2. Significant accounting policies The accounting policies adopted are consistent with those of the annual financial statements for the year ended 31 December 2008, as described in those annual financial statements. 3. Segment information +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | | Segment revenue | | | Segment result | +-------------+---------------------------+--+--+---------------------------+ | In | 2009 | | | 2008 | | | 2009 | | | 2008 | | thousands | | | | | | | | | | | | of euros | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Continuing | | | | | | | | | | | | operations | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Residential | 6,734 | | | 6,540 | | | 553 | | | 204 | | Letting | | | | | | | | | | | | Services | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Residential | 100 | | | 304 | | | (77) | | | 43 | | Sales | | | | | | | | | | | | Services | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Financial | 7,031 | | | 7,312 | | | 602 | | | (2,188) | | Services | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | | 13,865 | | | 14,156 | | | 1,078 | | | (1,941) | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Unallocated | | | | | | | 72 | | | (254) | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Result | | | | | | | 1,150 | | | (2,195) | | before | | | | | | | | | | | | tax | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Tax | | | | | | | 370 | | | 307 | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ | Result | | | | | | | 1,520 | | | (1,888) | | for the | | | | | | | | | | | | period | | | | | | | | | | | +-------------+----------+--+--+----------+--+--+----------+--+--+----------+ The Company recognises three business segments based on the products, environment and risks: * Commissions from Residential Letting Services (lettings and property management); * Commissions earned and proceeds from the sale of residential new build properties (as an agent or principal); * Financial Services (insurance and mortgage commissions). 4. Seasonality The Group's Residential Letting is subject to seasonal fluctuations as a result of several conditions. In particular, peak activity usually occurs between the months of May and October. This is based on historical figures. 5. Borrowings During the period, the Group has repaid the loan agreement of EUR 18 million and EUR 2 million to the other loan and mortgage. 6. Earnings per share +--------------+-+-+-------------+ | | | | 2009 | +--------------+-+-+-------------+ | | | | | +--------------+-+-+-------------+ | Profit | | | 1,520 | | attributable | | | | | to ordinary | | | | | shareholders | | | | | (EUR'000) | | | | +--------------+-+-+-------------+ | | | | | +--------------+-+-+-------------+ | Weighted | | | 157,406,028 | | average | | | | | number | | | | | of | | | | | shares | | | | | in issue | | | | +--------------+-+-+-------------+ | | | | | +--------------+-+-+-------------+ | Basic | | | 0,01 | | earnings | | | | | per | | | | | share | | | | | (EPS) | | | | | after | | | | | tax (EUR) | | | | +--------------+-+-+-------------+ 7. Commitments and contingencies Under the terms of contracts to sell residential properties on behalf of developers, the Company has obligations to purchase any unsold properties at the end of that contract. At 30 June 2009, the maximum commitment to purchase unsold apartments amounts to EUR 3,661. 8. Approval of interim financial statements The interim financial statements were approved by the board of directors on 27 August 2009. Disclaimer This press release may contain forward-looking statements with regard to the financial position and results of Direct Wonen's activities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Direct Wonen's ability to control or estimate precisely, such as future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, interest-rate fluctuations, changes in tax rates, changes in law, pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in Direct Wonen's publicly available financial information as included in the admission document to the AIM dated 25 April 2007. You are cautioned not to place undue reliance on these forward-looking statements, which are only relevant as of the date of this press release. Direct Wonen does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these statements. Market share estimates contained in this press release are based on outside sources, such as specialised research institutes, in combination with management estimates. This information is provided by RNS The company news service from the London Stock Exchange END IR DVLBLKVBFBBF
1 Year Direct Wonen Chart |
1 Month Direct Wonen Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions