Direcional Engenharia S.A. Announces Consolidated Earnings Results for the First Quarter of Fiscal 2019
May 09, 2019
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Direcional Engenharia S.A. announced consolidated earnings results for the first quarter of fiscal 2019. For the quarter, the company reported real estate sales Revenue was BRL 310,102,000 against BRL 176,190,000 a year ago. Services Revenue was BRL 54,467,000 against BRL 34,954,000 a year ago.
Gross Revenue was BRL 364,569,000 against BRL 211,144,000 a year ago. Operating net revenue was BRL 348,800,000 against BRL 192,155,000 a year ago. Operating loss was BRL 68,205,000 against BRL 49,927,000 a year ago. Net income for the period was BRL 20,414,000 against loss of BRL 8,093,000 a year ago.
Direcional Engenharia SA is a Brazil-based company engaged in the residential real estate sector. The Company focuses on development and construction of residential housing projects, targeting the low-income segment. It mainly builds multifamily homes that form a residential district. The Company develops its activities through special partnerships (SCPs) and special purpose entities (SPEs), which are active exclusively in the real estate sector. It operates in the states of Rio de Janeiro, Sao Paulo, Rio Grande do Sul, Minas Gerais, Para and Amazonas, among others, Brazil. The Company owns numerous subsidiaries, such as Direcional Taguatinga Engenharia Ltda, Ametista Empreendimentos Imobiliarios Ltda and Malaquita Empreendimentos Imobiliarios Ltda.