August 10, 2017 / 10:10 PM / a year ago

Brazil homebuilder Cyrela posts larger-than-expected net loss

SAO PAULO, Aug 10 (Reuters) - Brazilian homebuilder Cyrela Brazil Realty SA on Thursday reported a net loss of 141 million reais ($44 million) in the second quarter, compared with net income of 45 million reais a year earlier, according to a securities filing.

The loss was larger than the 122 million reais forecast in a Reuters consensus estimate. The company noted in the filing that the quarter was marked by both political turmoil and a stable economic outlook, adding, “We remain very cautious but we believe we can now envision improvements in the current scenario.”

$1 = 3.17 reais Reporting by Ana Mano; Editing by Leslie Adler

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