Despite the fall in net income, Brazilian homebuilder Eztec (Bovespa: EZTC3) improved its operations’ margins on 3Q11. The company’s bottom line ended the period at R$76.79 million, 2.6% less than in 2010, but the net margin or how much sales turned into profit – increased to 45.1%, a 1.5% improvement.
Revenues also fell 5.6% to R$169.29 million when compared to 3Q10. In addition to a lower sales volume, the revenue fall was fueled mainly due to suspension of two of its projects. A drop in construction costs 12.1% less in 12 months for products and services brought the gross margin to 54.9%, up 3.4%.
Share →