France's Nexity H1 profit down, cuts outlook
PARIS, July 30 (Reuters) - French property group Nexity (NEXI.PA: Quote, Profile, Research) posted lower first half profits on Wednesday and trimmed its outlook, as the effects of the credit crunch continue to impact the real estate sector.
First half operating profit fell 2 percent to 144.4 million euros ($225.1 million) while adjusted pre-tax profits fell 12 percent to 123.7 million euros.
Nexity said it was now targeting a 2008 net profit of around 200 million euros -- down from its previous target for a net profit of more than 240 million.
Nexity shares closed up 2.1 percent at 14.46 euros. French mutually-owned bank Groupe Caisse d'Epargne owns around 40 percent of Nexity.
(Reporting by Yann Le Guernigou and Sudip Kar-Gupta; Editing by David Cowell)
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article





India
US
UK










