Brazil's Cyrela sees new projects picking up in early 2013
SAO PAULO Nov 13 (Reuters) - Cyrela Brazil Realty SA , the country's No. 2 homebuilder, expects to launch more new projects early in 2013 than in recent quarters, Chief Financial Officer Jose Florencio Rodrigues said on Tuesday.
Cyrela's gross profit margin in 2013 should approach the upper end of the company's target for 2012, Rodrigues added in a conference call. In January, the homebuilder forecast a gross profit margin of 30 percent to 34 percent for 2012.
Cyrela posted a slight rise in third-quarter profit on Monday. Revenue declined, with fewer housing starts and cooler demand.
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image