UPDATE 1-Mexico's Homex posts 18 pct dip in qtly net profit

* Homex posts 18 pct dip in net

* Revs climb 16 percent (Adds details on results)

MEXICO CITY, July 26 (Reuters) - Homex (HOMEX.MX), one of Mexico's leading homebuilders, posted a second-quarter net profit of 431.4 million pesos ($33 million), down 18 percent from the year-ago period, as costs rose.

Revenue rose 16 percent over the same period to 4.8 billion pesos.

The company said on Monday its cost of sales and administration grew in the quarter. It posted an exchange rate loss in the second quarter compared to a gain in the year-ago period.

Homex said fewer land-reserve purchases led to positive free cash flow of 181 million pesos for the period, after being cash flow negative in the previous quarter.

Homex titled 12,312 houses during the quarter, up 3.3 percent as the Culiacan, Sinaloa-based company concentrated more on its most profitable segments.

Adjusted earnings before interest, taxes, depreciation and amortization were 1.06 billion pesos in the second quarter, 9.1 percent higher than in the same quarter last year. ($1 = 12.94 pesos as of end-June) (Reporting by Noel Randewich; Editing by Richard Chang)