Consorcio ARA, S. A. B. de C. V. Announces Earnings Results for the Second Quarter and Six Months Ended June 2019; Provides Revenue Guidance for the Second Half and Full Year of 2019
July 22, 2019
Share
Consorcio ARA, S. A. B. de C. V. announced earnings results for the second quarter and six months ended June 2019. For the quarter, the company reported revenue of MXN 2,001.0 million against MXN 2,232.0 million a year ago. Income from operations was MXN 245.0 million against MXN 260.4 million a year ago. Net income was MXN 206.3 million against MXN 222.3 million a year ago.
For the year, the company reported revenue of MXN 3,698.2 million against MXN 3,951.9 million a year ago. Income from operations was MXN 431.2 million against MXN 452.9 million a year ago. Net income was MXN 359.0 million against MXN 381.8 million a year ago.
The company expects revenues to be stronger in the second half of 2019, due primarily to new Middle-Income and Residential developments. The company expects to achieve a 4% annual growth in revenues, within the range projected at the start of the year.
Consorcio Ara SAB de CV is a Mexico-based company engaged in the real estate sector. The Companyâs main activities include the design, construction, promotion, leasing and sale of residential properties. Its housing portfolio is divided into four business lines: Progressive, Social Interest, Medium and Residential. The Company is also involved in the development, management and leasing of supermarkets and shopping centers located in the State of Mexico, Baja California and Veracruz. The Company operates through a number of subsidiaries, such as Consorcio de Ingenieria Integral SA de CV, Proyectos Urbanos Ecologicos SA de CV, Constructora y Urbanizadora Ara SA de CV, Asesoria Tecnica y Administrativa Gavi SA de CV, Promotora y Desarrolladora de Centros Comerciales SA de CV, Desarrollos Inmobiliarios Turisticos Ara SA de CV and Inmobiliaria el Globo SA de CV.
Consorcio ARA, S. A. B. de C. V. Announces Earnings Results for the Second Quarter and Six Months Ended June 2019; Provides Revenue Guidance for the Second Half and Full Year of 2019
CONSORCIO ARA, S. A. B. DE C. V. 
