MEXICO CITY Dec 4 Mexican homebuilder Homex
anticipated on Tuesday a decline of between 23
Percent and 24 percent in its 2013 consolidated revenue,
factoring in a project to build two federal jails which has
dragged the company's performance in recent months.
Excluding the jails, Homex sees next year's revenue flat
The Culiacan-based company said between 1 billion pesos and
1.2 billion pesos, out of a total of 10.6 billion pesos expected
from the construction of the jails, will be accounted for in the
first quarter of 2013.
These funds will not result in any penalty for Homex as the
project was modified and will suffer a delay. In October, the
company said it expected to have the jails done by December and
start operating them in January. The new delivery status was not
detailed by the company.
Apart from the construction of the federal facilities, Homex
is also providing laundry, food and maintenance services at the
Homex forecast 2013 cash flow should range between zero and
negative 200 million pesos ($15 million) factoring in the jails.
Excluding the project, cash flow is seen between 700 million
pesos ($54 million) and 1 billion pesos ($77 million).
Homex shares slipped 0.67 percent to close at 29.59 pesos on