LONDON (Thomson Financial) - Direct Wonen N.V. said its performance in the first half year will be significantly below the first half of 2007 but said operational profitability is expected to improve in the second half of 2008.

The property and financial services provider based in The Netherlands said Richard Westerhuis will be appointed as chairman of the company, replacing Terry Hart who remains a non executive director.

The company has appointed Jan-Peter Duijvestijn as chief financial officer effective August 1, adding chief executive officer Yvonne Swaans will transfer her investor relations role and related activities in the corporate head office to Jan-Peter in order to focus on commercial activities and growth in the property division.

Direct Wonen also said Ihab El Sayed is to take over responsibility for the financial services division as chief operations officer. Ihab has relinquished his position as CFO. TFN.newsdesk@thomson.com kkb/ejp

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