Brazil builder MRV posts lower sales in 2nd-qtr; launches rise
SAO PAULO, July 16 (Reuters) - Brazilian homebuilder MRV Engenharia e Participacoes SA sold 1.43 billion reais ($454.52 million) worth of new homes in the second quarter, down 5.6 percent from the same period a year earlier, the company said in a securities filing on Thursday.
The value of new project launches in the quarter totaled 1.088 billion reais, up 3.9 percent from 1.047 billion reais in the same quarter of 2014.
MRV focuses on the low-income segment of Brazil's housing market, which has proven to be more resilient than the broader market as Brazil's economy dips into recession.
($1 = 3.155 Brazilian reais) (Reporting by Asher Levine; Editing by David Gregorio)
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