Besqab's Q2 looks mixed. The quarter showed strong revenue growth, partly due to timing effects, with 490 housing completions in Q2 versus zero in Q1. Starts and units sold rose significantly from a low base. Gross margin was impacted by the high number of starts, which involved more cautious initial revenue recognition. Additionally, increased overhead costs related to the integration and the recently completed listing change burdened the quarter (unquantified).
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