Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Gafisa Rises to a Ten-Month High as Sales Jump: Sao Paulo Mover

Gafisa SA, Brazil’s fourth-biggest homebuilder by revenue, jumped to a ten-month high as sales almost tripled in the last quarter of 2012.

Shares rallied 6.1 percent to 5.20 reais at the close of trading in Sao Paulo. It was the second-best performance on the BM&FBovespa Real Estate index, which fell 0.4 percent.

Sales jumped to 905.2 million reais ($444 million) in the three months through December from 338.4 million reais in the same period of 2011, Gafisa said in a regulatory filing on preliminary quarterly results after the market closed yesterday.

“Although the company was hurt again by client cancellations in its low-income division, sales speed was a positive surprise,” David Lawant, Enrico Trotta and Vivian Salomon, analysts at the investment bank Itau BBA, wrote in a note to clients published today. They have a buy recommendation on the stock, with a 12-month price target of 6.40 reais.

Brookfield Incorporacoes SA advanced 5.5 percent to 3.86 reais, the highest level since October, after reporting late yesterday that sales in the fourth quarter of 2012 met its guidance at 1.1 billion reais. That is a 17 percent decline from the same period a year earlier.

Even Construtora e Incorporadora SA gained 0.6 percent to 9.45 reais. The homebuilder’s new projects soared 72 percent to 1.2 billion reais in the fourth quarter from a year earlier.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.