Cyrela’s profit drops 43.5% in the 2nd quarter, to R$ 151 million

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Cyrela recorded a profit of R$ 151 million in the second quarter, 43.5% below the amount recorded in the same period last year (R$ 267 million). In comparison with the first quarter of the year, there was a drop of 6.8% in the final result of the balance sheet released this Thursday (11) by the developer.

The company had, in the interannual comparison, growth of 5.8% in net revenue, which totaled R$ 1.25 billion.

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This positive variation, however, was eroded by inflationary pressures on the cost of works, salary readjustments for employees, increase in selling expenses due to the greater number of launches and a negative impact of R$ 26 million due to legal contingencies.

Cyrela launched 13 projects in the quarter, totaling R$ 2.33 billion, which corresponds to an increase of 21% over the second quarter of last year (R$ 1.93 billion).

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Sales, on the same basis of comparison, were up 4%, totaling R$ 1.62 billion. The company’s share of pre-sales was 86%, in line with the percentage a year earlier.

Source: CNN Brasil

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