Corporacion GEO SAB de CV (BMV:GEOB, CORPEGO MX, ADR Level I CUSIP: 21986V204; Latibrex:XGEO) has released a guidance for fiscal 2010. The guidance shows the company’s anticipation of revenue growth to fall between 8%-11%. It’s EBITDA margin is expected to be within the range of 21% and 23%. The company has reached these figures based on the new INIF-14 accounting principle and are compared to the pro forma statements of 2009. Revenue growth is believed to be supported by the company’s strategy of focusing on its lower income housing segment, its marketing tactics, and availability of lower income housing mortgages through INFONAVIT and FOVISSSTE.
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The full financial guidance is available on the company’s website, http://www.corporaciongeo.com/, for review.
Corporacion Geo SAB de CV (Geo) is a Mexico-based company primarily engaged in the homebuilding sector. The Company specializes in the development of residential housing projects. Its activities include the design, development, construction and marketing of real estate. The Company distributes and sales its products under the Casas Geo brand. Through its subsidiaries, the Company has operations established in 33 cities of 16 Mexican states. The Company owns such subsidiaries as Consolidado de Nuevos Negocios SA de CV, Construcciones BIPE SA de CV, Crelam SA de CV, Evitam SA de CV, Geo Edificaciones SA de CV, Geo Produccion Industrial SA de CV, Geo Maquinaria SA de CV and Lotes y Fraccionamientos SA de CV, among others. In addition, the Company is active in the financial sector and it offers credit intermediation services.
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