Hypo RE said it posted a net income before taxes of about EUR 183 mln in the second quarter of 2007. The group added that this result is mainly due to the exceptionally high new business of EUR 10 bn in this period, which is reflected in considerably higher net commission income. On the back of this positive development, the management board is raising its forecast for full-year 2007. Consolidated net income before taxes is now expected to rise from EUR 680 mln to more than EUR 710 mln.
Hypo RE said it posted a net income before taxes of about EUR 183 mln in the second quarter of 2007. The group added that this result is mainly due to the exceptionally high new business of EUR 10 bn in this period, which is reflected in considerably higher net commission income. On the back of this positive development, the management board is raising its forecast for full-year 2007. Consolidated net income before taxes is now expected to rise from EUR 680 mln to more than EUR 710 mln.
