MEXICO CITY, July 25 Mexican homebuilder Homex
, which has struggled with a heavy debt load and
flagging sales, reported a second quarter loss of 10.156 billion
pesos ($782 million) on Thursday.
The Culiacan-based firm had a 572-million peso profit in the
same period last year, the company said in a filing with the
Mexican stock exchange.
Homex took a charge of 5.265 billion pesos related to its
land inventory, as part of an adjustment under a new government
housing plan that is prioritizing developments closer to city
Revenue fell 84.4 percent to 1.114 billion pesos from the
Homex, like its rivals Urbi and Geo, is
trying to restructure its debt, after taking on loans to buy
large tracts of suburban land where Mexicans no longer want to