Net sales of MRV in 1st Qtr grow 15%

São Paulo – net sales of real estate economic construction Dehuff between January and March grew 15% as compared to the same period a year earlier, as the releases hit record high for the first quarter and the cancellations retreated over 15%.
"This first quarter was of inflection and we expect this year to be more active in launches and sales compared to 2016," said Reuters the co-Chairman of the company, Rafael Beautifu.
The Executive also said that the MRV does not expect strong recovery of economy in 2017 and, despite positive measures adopted by the Government in the context of my house my life (MCMV), MRV will be "assertive" in releases, focusing on micro-regions subabastecidas.
In the first quarter, contracted sales totaled 1.3 billion gross of MRV reais, 7,2% more before January to March 2016, as operating on Monday disclosed prior. Net sales rose 15% already in the same comparison, to 1.05 billion reais.
The construction company launched 7,677 units in the first three months of 2017, equivalent to a potential sales value (PSV) from 1.211 billion reais.
The figure is 24,5% higher than the first quarter of 2016 and it was 13,1% above the fourth quarter.
At the same time, the relative sales cancellations fell to 20,5%, to 26% between January and March 2016, due to the adoption of the project '' sale '', through which the MRV accounts for business only after the transfer.
Menin said that the mechanism delays the recognition of sales, but must allow the MRV zero cancellations within about two years.
"Without that, sales (Q1 gross) would have grown 12%, not 7 percent," commented, adding that the company hopes to introduce this method in all regions by the end of this year.
The construction company also intends to spend between 100 million and 120 million dollars for the purchase of land in 2017, according to the Executive.
"The competition is small and we want to put together a huge land bank until this window of opportunity closes," he said.
The landbank of MRV totalled 41.4 billion reais at the end of March, 14,1% over the same period to 2016.
According to the co-chair, disbursements for the purchase of land and infrastructure tend to limit the company''s cash generation in the short term.
In the first quarter, the MRV had applicant cash generation of 75 million reais, 58,3% least compared to equal last year''s range, affected by the restrictive stance from one of the partner banks, which committed sales and the transfer of units, said Dr.
"When the works are ready we can migrate, then we hope the second half recovery on the basis of this migration," said the Executive.