Urbi, Desarrollos Urbanos, S.A.B. de C.V. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 28, 2023 at 01:05 pm EDT
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Urbi, Desarrollos Urbanos, S.A.B. de C.V. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was MXN 21.85 million compared to MXN 69.69 million a year ago. Net income was MXN 39.5 million compared to MXN 1.09 million a year ago. Basic earnings per share from continuing operations was MXN 3.4 compared to MXN 0.1 a year ago. Diluted earnings per share from continuing operations was MXN 3.4 compared to MXN 0.1 a year ago.
For the six months, sales was MXN 59.14 million compared to MXN 108.89 million a year ago. Net income was MXN 30.11 million compared to net loss of MXN 12.26 million a year ago. Basic earnings per share from continuing operations was MXN 2.6 compared to basic loss per share from continuing operations of MXN 1.1 a year ago. Diluted earnings per share from continuing operations was MXN 2.6 compared to diluted loss per share from continuing operations of MXN 1.1 a year ago.
Urbi Desarrollos Urbanos SAB de CV is a Mexico-based company primarily engaged in the homebuilding sector. The Company's activities are divided into three business lines: Real estate development, Real estate construction and Plots. The Real estate development line is responsible for the design, construction and sale of own residential buildings, which aim at low, middle, and high-income families. The Real estate construction line comprises management and construction of residential projects for third parties. The Plots line focuses on the acquisition, subdivision and sale of land. The Company develops housing projects under a range of brand names, including UrbiVilla, UrbiQuinta, UrbiHacienda and UrbiClub. The Company operates through numerous subsidiaries, such as Ingenieria y Obras SA de CV, Obras y Desarrollos Urbi SA de CV and Cyd Desarrollos Urbanos SA de CV.
URBI, DESARROLLOS URBANOS, S.A.B. DE C.V. 
