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UPDATE 1-Mexico's Urbi sees sales recovering in 2010

Tue Oct 27, 2009 12:35pm EDT

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(Updates with 2009 sales details, results)

Stocks  |  Mexico  |  Cyclical Consumer Goods

MONTERREY, Mexico, Oct 27 (Reuters) - Mexican homebuilder Urbi (URBI.MX) sees its sales climbing 10 percent next year as the company ramps up investments, Director of Planning and Finance Selene Avalos said on Tuesday.

Urbi's home sales fell 13 percent to 13 billion pesos ($984 million) this year as Mexico's economy suffered its worst recession since the 1930s.

Urbi posted a 30 percent fall in third-quarter net profit to 459 million pesos on Monday. Its sales in the quarter were 3.076 billion pesos, down 27 percent over the year-ago period.

But Avalos told an analyst conference call on Tuesday the Mexicali-based homebuilder was betting on a recovery next year and would increase investments after cutbacks in 2009. (Reporting by Gabriela Lopez, editing by Matthew Lewis)

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