UPDATE 1-Mexican construction firm ICA swings to 1st-qtr loss

Mon Apr 28, 2014 7:50pm EDT

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(Adds details on revenue)

MEXICO CITY, April 28 (Reuters) - Mexican builder ICA swung to a loss of 23.8 million pesos ($1.82 million) in the first quarter, dragged down by higher financing costs, the company said on Monday.

Last year, the construction company posted a profit of 164 million pesos in the January-March period.

After exchange rate fluctuations netted the company a gain of 842 million pesos during the first three months of last year, the company had to book a loss of 51 million pesos this quarter, it said.

The company said its revenue rose to 7.98 billion pesos, 28 percent above the 6.23 billion pesos it earned in the year ago period, boosted by growth in its construction and concession businesses.

ICA added that it expects revenue growth of 10 percent to 12 percent this year. ($1 = 13.06 Mexican Pesos) (Reporting by Gabriela Lopez and Alexandra Alper; Editing by Bernard Orr)

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