Gafisa Reports Strong Q4 Gains
Brazilian construction major Gafisa has released a preview of results for its Q4 and full-year 2012, and it shows robust growth in operations. The company said its unit deliveries increased 43% on a year-over-year basis during the quarter and by 20% for all of 2012. In total, it delivered more than 27,000 units during the year, beating its own guidance of 22,000 to 26,000.
Gafisa also said it ended the quarter with approximately 1.62 billion reals ($796 million) in cash and equivalents, against net debt of 2.63 billion reals ($1.29 billion). Those numbers stood at 1.23 billion ($605 million) and 2.94 billion ($1.45 billion), respectively, at the end of Q3.
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