March 22, 2018 / 10:05 PM / 4 months ago

Brazil's Cyrela beats quarterly profit estimates

SAO PAULO, March 22 (Reuters) - Cyrela Brazil Realty SA , Latin America’s largest homebuilder, beat fourth quarter profit estimates on Thursday, as the company began more aggressively liquidating its extensive land bank.

In a securities filing, the company posted a net profit of 48.8 million reais ($14.7 million), up 58 percent from last year and above a Reuters consensus estimate of 16.3 million reais.

$1 = 3.32 reais Reporting by Gram Slattery; Editing by Cynthia Osterman

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