Mexico's Urbi sees share price fall nearly 10 pct on weak report

MEXICO CITY Thu Feb 28, 2013 1:40pm EST

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MEXICO CITY Feb 28 (Reuters) - Shares in Mexican homebuilder Urbi fell nearly 10 percent on Thursday, as investors sold off stock after the company reported a fourth-quarter profit decline.

The company reported a 63 percent fall in fourth-quarter profits after market close on Wednesday due to a slump in sales and higher financing costs.

Urbi shares were down 9.87 percent on Thursday at 4.29 pesos a share.