Brazil builder Gafisa to post higher margins in 2014 - CEO

SAO PAULO Thu Feb 27, 2014 9:23am EST

SAO PAULO Feb 27 (Reuters) - Brazilian homebuilder Gafisa SA expects a measure of profit margin to rise by 2 percentage points this year, Chief Executive Officer Duilio Calciolari told Reuters on Thursday.

Gafisa's so-called gross margin was 31.5 percent in the fourth quarter, up from 27.6 percent in the previous three months.

Calciolari sees a "stable market" for homebuilders in 2014, as Gafisa works to recover market share lost in recent years.

The company should launch 5,000 units in its low-income segment Tenda division in 2014, and reach an annual rate of 8,000 to 10,000 units in three years, he added.

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

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