Direct Wonen says sees FY outcome significantly below market expectations |
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Published
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Fri, 28 Dec 2007 08:10
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LONDON (Thomson Financial) - UK smallcap Direct Wonen NV said the full year outcome will be significantly below market expectations on the 'disappointing performance' of its financial services division and added it expects market conditions to remain challenging.The company also said it terminated its plan to make an acquisition -- announced earlier -- in light of the deteriorating market conditions in the UK property market.The company said its financial services division was hit by higher costs and challenges regarding new property sales, adding it sees full year EBITDA of between 14 and 16 mln eur.Direct Wonen said there was a marked slowdown in the sales of new properties with an increasing trend towards interest only mortgages -- a relatively low-margin product.It will announce full-year results on April 4.TFN.newsdesk@thomson.comssa/slmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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NASDAQ
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1398.07 |
-137.50 (
-8.95 %)
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2008-12-02 ) |
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2008-12-01 )
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INTEL CP
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4:00pm ) |
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12.56 |
-1.24 (
-9.16 %)
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2007-09-04 )
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Direct Wonen says Weswa lifts stake in co 