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Vonovia profit up 8% in H1, confirms guidance

BERLIN, Aug 5 – German residential real estate company Vonovia said on Wednesday it was coping well with the coronavirus pandemic, as it announced an 8% rise in first-half core profits and confirmed its guidance for the year.

The constituent of the DAX index said it would continue to offer flexible payment terms to tenants who were facing financial hardship after losing their jobs or going on furlough, and around 1% of them had taken that up.

“We have weathered the coronavirus crisis well so far,” said CEO Rolf Buch. “This means that we can do a lot for our tenants and live up to our social responsibility.” (Reporting by Douglas Busvine; editing by Thomas Seythal)

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