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Brazil builder PDG posts $222 million net loss
August 14, 2012 / 1:05 AM / 5 years ago

Brazil builder PDG posts $222 million net loss

SAO PAULO, Aug 13 (Reuters) - PDG Realty, Brazil’s biggest homebuilder, posted a second-quarter net loss of 450 million reais ($222 million), compared to a profit of 32 million reais a year earlier, according to a Monday securities filing.

The result missed forecasts for a profit of 85 million reais in a Reuters poll of six analysts.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, fell to a negative 259 million reais, adjusted for stock options, missing an average estimate of a positive 236 million reais. ($1 = 2.0280 Brazilian reais) (Reporting by Brad Haynes and Aluisio Alves; Editing by Michael Urquhart)

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