Essent 1st Half Net Profit EUR2.6 Billion, RWE Deal To Be Completed In 3Q

Date : 08/06/2009 @ 6:15AM
Source : Dow Jones News
Stock : Essex Property Trust, Inc. (ESS)
Quote : 256.29  -0.54 (-0.21%) @ 4:00PM

Essent 1st Half Net Profit EUR2.6 Billion, RWE Deal To Be Completed In 3Q

Essex Property (NYSE:ESS)
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Dutch utility Essent NV said Thursday it swung to a EUR2.6 billion net profit in the first half of 2009, and said that it expects the transaction with Germany-based RWE (RWE.XE) will be completed in the third-quarter of 2009.

MAIN FACTS:

-Net profit in the first half was EUR2.6 billion.

-Profit from continuing operations attributable to shareholders of Essent NV was EUR185.6 million.

-Profit from discontinued operations was EUR2.41 billion.

-Revenue came in at EUR4.01 billion.

-The transaction with RWE is expected to be completed in the third quarter of 2009

-Essent expects growth of normalized profit from continuing operations for the whole of 2009 to amount to at least 10% compared to 2008.

- By Amsterdam Bureau, Dow Jones Newswires; amsterdam@dowjones.com

 
 

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