Brazil builder PDG sees launches, cash generation up in 2014

SAO PAULO Fri Feb 14, 2014 10:31am EST

SAO PAULO Feb 14 (Reuters) - PDG Realty SA, one of Brazil's biggest homebuilders, said project launches should continue to rise in 2014, with the company turning the cash burn of recent quarters into cash generation by the second half of the year.

Speaking to analysts on a Friday conference call to discuss fourth quarter results, Chief Executive Carlos Piani said the company continues to expect stronger growth ahead despite macroeconomic headwinds.

PDG posted a quarterly net profit of 19 million reais ($7.95 million) on Thursday, driven by stronger apartment sales and the sale of an office project.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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