UPDATE 1-Shares in Mexico's Homex fall after revenue forecast

Wed Dec 5, 2012 1:13pm EST

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MEXICO CITY Dec 5 (Reuters) - Shares in Mexican home-builder Homex dropped by as much as 9.4 percent on Wednesday, one day after the company forecast a decline of between 23 and 24 percent in its 2013 consolidated revenue.

Shares of the Culiacan-based company dropped to as low as 26.82 pesos per share in morning trading, before recovering slightly to trade at 27.220 pesos at 1803 GMT.

The home-builder has said that next year's cash flow should range between 700 million pesos ($54 million) and 1 billion pesos ($77 million), excluding the company's plans to build two federal jails.ΕΎ

Shares of the company are traded on the Mexican stock exchange.

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