Business News
Tecnisa Announces 2Q08 Results
2008-08-14 06:00:00
SAO PAULO, Brazil, Aug. 14 /EMWNews/ -- Tecnisa (Bovespa: TCSA3), one of the largest and most renowned real estate companies in Brazil, announces today its second quarter 2008 (2Q08) results. -- 61% of 1H08 launches sold; -- Net Revenue Growth of 79%; -- Net Margin of 17.6%; -- Launches: We launched 6 projects in the second quarter of 2008, with a joint potential sales value (PSV) of R$399.3 million, Tecnisa's interest being R$309.9 million. Consequently, we closed the first half with total launches of R$643.6 million, Tecnisa's interest being R$537.1 million, 365% up on the first six months of 2007; -- Consumidor Moderno Award: In May 2008, Consumidor Moderno magazine elected Tecnisa as the best company in the real estate sector in customer relations. In 5 editions of the award, Tecnisa has come top in its sector on each occasion; -- Rating: Tecnisa received a brA-credit risk rating from Standard & Poors, reflecting the Company's relevant market share in the metropolitan region of Sao Paulo, the high quality of its developments and the exceptionally healthy state of Brazil's real estate market. The full earnings release is available on the Company's IR website at http://www.tecnisa.com.br/ir Tecnisa will be hosting conference calls on August 14, 2008, Thursday, at 10:00 a.m. US ET in English and 11:00 a.m. US ET. Further connecting details are available on the Company's IR website at http://www.tecnisa.com.br/ir
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