Brazil's MRV says sales and launches down in Q1
BRASILIA, April 16 (Reuters) - Brazilian homebuilder MRV Engenharia e Participacoes SA said on Thursday its sales and the value of project launches fell sharply in the first quarter from a year ago.
Contracted sales, a measure of first home purchases, totaled 1.36 billion reais ($450.14 million) in the first quarter, down 11.1 percent from the same period a year ago. The value of project launches fell 19.1 percent to 937 million reais in the same period, the company said in a securities filing. ($1 = 3.0213 Brazilian reais) (Reporting by Alonso Soto; Editing by Lisa Shumaker)
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