UPDATE 1-Mexican homebuilder Homex net profit plunges

lunes 27 de febrero de 2012 21:18 ART

MEXICO CITY Feb 27 (Reuters) - Mexican homebuilder Homex posted on Monday a 38 percent year-on-year decline in fourth-quarter profit of 254 million pesos ($18 million), dented by foreign exchange losses, higher costs on sales and taxes.

The company reported revenues of 6.430 billion pesos in the October to December period, up 6 percent from a year earlier, in part helped by its growing operations in Brazil.

The homebuilder, which issued $400 million of debt earlier this month, rose 0.92 percent to close at 43.91 pesos on Monday, before results were disclosed.