Brazil builder PDG says cancellations will not increase in 2014

SAO PAULO Fri Aug 1, 2014 10:23am EDT

SAO PAULO Aug 1 (Reuters) - Brazilian homebuilder PDG Realty SA does not expect canceled sales contracts in the second half of 2014 to exceed cancellations in the first half, Chief Executive Officer Carlos Piani said on a Friday earnings call.

Canceled contracts worth 275 million reais ($122 million)triggered a 19 percent drop in second-quarter revenue, PDG said on Thursday, contributing to a bigger-than-expected net loss of 135 million reais. ($1 = 2.26 Brazilian reais) (Reporting by Juliana Schincariol; Editing by Jeffrey Benkoe)

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