UPDATE 1-Mexico's Homex 4th-qtr net plunges 39 pct

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MEXICO CITY, Feb 27 (Reuters) - Homex, one of Mexico's largest homebuilders, posted a fourth-quarter net profit of 182 million pesos ($17 million) on Tuesday, down 39 percent because of goodwill charges related to an acquisition in 2005.

Quarterly revenue rose 22 percent to 3.9 billion pesos ($360 million), the company said in a report to the stock exchange.

Homex's (HXM.N)(HOMEX.MX) earnings before interest, tax, depreciation and amortization, or EBITDA, for the quarter were 954 million pesos, up 27 percent.

Homex acquired smaller competitor Casas Beta in 2005 for about $200 million to speed up growth but faced the goodwill charge in the fourth quarter of last year, the company said.

After making acquisitions, companies gradually charge goodwill -- the perceived value of brands and other non-tangible assets they have received -- against their future earnings.

Construction companies like Homex have grown quickly in recent years amid Mexico's improved economic stability and increased availability of mortgages.

President Felipe Calderon, who began his six-year term in December, has promised to push for even faster growth in the housing sector.

Most of the push for new housing in Mexico is for low-income families, giving them a first step on the mortgage ladder with professionally built homes. Traditionally, in Mexico, many poor families built their own homes.

($1 = 10.809 pesos at end December)