1 Min Read
MEXICO CITY, Dec 5 (Reuters) - Shares in Mexican home-builder Homex dropped by as much as 9.4 percent on Wednesday, one day after the company forecast a decline of between 23 and 24 percent in its 2013 consolidated revenue.
Shares of the Culiacan-based company dropped to as low as 26.82 pesos per share in morning trading, before recovering slightly to trade at 27.220 pesos at 1803 GMT.
The home-builder has said that next year's cash flow should range between 700 million pesos ($54 million) and 1 billion pesos ($77 million), excluding the company's plans to build two federal jails.ž
Shares of the company are traded on the Mexican stock exchange.