Finext profit falls sharply in first half

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Holding company Finext, the capital-investment arm of Hungarian property developer Futureal, posted after-tax profit of HUF 302.9 million in the first half of 2011, down from HUF 829.8 million in H1 2010, the company announced on Tuesday evening in its unaudited, unconsolidated first-half financial report prepared according to Hungarian Accounting Standards. 

Finext had net assets of HUF 872 million on June 30 of this year, compared to net assets of HUF 1.39 billion on June 30 of last year.

Finext, which is a B-issuer at the Budapest Stock Exchange, has generated no share transactions at the BSE since June 2, 2010.

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