Brazil's PDG Realty's expenses to keep declining this year - CEO

viernes 9 de mayo de 2014 11:07 GYT

SAO PAULO May 9 (Reuters) - Brazilian homebuilder PDG Realty SA expects selling and general expenses to continue to decline through the year, Chief Executive Officer Carlos Piani said on Friday.

"In line with the reduction in the size of the company's operations, we have a bit more freedom to optimize," Piani said on a conference call with analysts to discuss first-quarter earnings.

PDG Realty posted a quarterly profit of 2.8 million reais ($1.26 million) on Thursday, as cutbacks in the scale of operations helped it swing from a net loss of 73.8 million reais a year earlier. ($1 = 2.22 Brazilian reais) (Reporting by Asher Levine)