Brazil’s Major Real Estate Development Company Reports Record Profits
One of Brazil’s largest property development companies – Lopes – recently reported a profit rise of 76.8 percent when comparing quarter 3 of 2010 with that of 2009.
With over 70 years of experience in the Brazilian marketplace, the company has remained particularly prominent in real estate launches with a presence in 12 of the country’s states: São Paulo, Rio de Janeiro, Minas Gerais, Espírito Santo, Goiás, Rio Grande do Sul, Rio Grande do Norte, Paraná, Santa Catarina, Bahia, Pernambuco, Ceará and the Federal District.
Total sales for the third quarter rose by 39 percent compared to the same period of 2009 reaching R$3.6 billion – representing a gross profit level of R$ 93.2 million.
The company has attributed the profits to the ever-improving performance of the Brazilian property market – supported by a range of factors including increased house buyer purchase power and banks offering better housing credit offers as well as their own concerted efforts to improve sales and marketing practices.
