DXG - Strong revenue growth from property recognition - Earnings Flash
We reiterate a BUY recommendation on DXG. While DXG’s performance in H1 2016 was not as good as expected, we expect performance to accelerate in the second half while good sales progress will carry on from Q2. Q2 revenue grew 264% vs Q2 2015. Growth was mostly driven by revenue recognition from the Sunview Town project. The brokerage segment witnessed a 4% decline, an encouraging result amid sector difficulties.